Karen Rodiguez 1 3/17/18 2 Tima Remaining: 0058 14 Subm This Quiz: 10 pts p atio
ID: 2545137 • Letter: K
Question
Karen Rodiguez 1 3/17/18 2 Tima Remaining: 0058 14 Subm This Quiz: 10 pts p ation Hep Quiz: MAL Quiz 8 This Question: 10 pts 1of1 complete) Alphs Watches completed the folowing selected transactions during 2016 and 2017 (Click the icon to view the transactions . The Tacourts for Allowance for Bad Debts and Bad Debts Expense have been opened for you. Record the transactions in the general joumal. Post to the two Taccounts and keep nunning belanoes, assuming at accounis tegin w 2. Assume the December 31, 2017. balance of Accourts Roovable is $139.000 Stow how net accorts mematio ld be mpeted on pebalarowheel-th" Dec. 31: Estimated that bed debts opensefor the year was 3% creme sales of $460000 andrecord d'irourine-pe-The company-re-ome zero balance Accounts and Explanation Dec. 31 Ad) Dec. 31: Made the closing entry for bad debts expense Accounts and Explanation Dec 31 (Clos) Post to the two T-accounts and keep unning balances, asuming all accounts begin with a zeno balance (Plost the December 3f entry on the frst line ol the account and caiculaile the December 31 balance on the seconsd ine of he accourt Chocse from any list or enter any number in the input felds and then continue to the next question MacBook Air 888a 6 8 2 3 4Explanation / Answer
Baddebt expenses = Credit sales * baddebt percentage
Baddebt expenses = $460,000*3%
Baddebt expenses = $13,800
Date Title Debit Credit 2016, Dec 31 Baddebt expenses $ 13,800 Allowance for doubtful accounts $ 13,800 (To record baddebt expenses for the year) 2016, Dec 31 Income summary $ 13,800 Baddebt expenses $ 13,800 (To close baddebt expenses)Related Questions
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