Exercise 4 - Understanding bad-debt disclosure in financial reports: Below is th
ID: 2540338 • Letter: E
Question
Exercise 4 - Understanding bad-debt disclosure in financial reports: Below is the disclosure on the allowance for doubtful accounts for Maya Inc. for the years 2015-2017: Year Write-offs Beginning balance of the allowance for doubtful accounts $215 (charges) to expense Ending balance of the allowance for doubtful accounts $226 $62 2015 2016 2017 232 94 105 232 94 243 Required: 1. Provide all the journal entries related to the allowance for doubtful accounts that Maya Inc. recorded in 2017. 2. Provide the missing values marked with ? in the table.Explanation / Answer
Journal entry :
Provide missing value :
Date accounts & explanation debit credit Allowance for doubtful accounts 94 Account receivable 94 (To record actual write off) Bad debt expense (12800-6000) 105 Allowance for doubtful accounts 105 (To record adjusting entry)Related Questions
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