value 071 points M8-5 Recording Write-Offs and Bad Debt Expense using the Allowa

Question

value 071 points M8-5 Recording Write-Offs and Bad Debt Expense using the Allowance Method ILO 82] Prepare journal entries for each transaction listed. (If no entry is required for a transaction/event, select "No Journal Entry Required" in the first account field.) At the end of June, bad debt expense is estimated to be $12.400 b. In July, customer balances are witten off in the amount of $6,200 View transaction list Journal entry worksheet Record the estimated be ,00 Note: Enter debits before credits. Record entry Clear entry General Journal

Explanation / Answer

TRN           General Journal                          Debit Credit a. Bad debts expense 12,400 Allowance for doubtful accounts 12,400 b. Allowance for dountful accounts 6,200 Account receivable 6,200

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