Please correct the values with red X’s next to them only. Thank you Blackboard L

Question

Please correct the values with red X’s next to them only. Thank you


Blackboard Learn Netflix · x ibox (90)-nacolombo@wcc Secure https://blackboard9.wccnet.edu/webapps/ubsh-lti-integration-BBLEARN//app/conts My ACC 111:-Principles of Accounting I -Section 06 Fall 2017 myBusinessCourse Chapter sinessCourse Menu General Journal Date Description Debit Credit Dec.31 Bad Debts Expense 9,380 Allowance for Doubtful Accounts 9,380 To record allowance for credit losses b. Current Assets: Accounts Receivable V 317,600 Less: Allowance for Doubtful Accounts 9,380 $ 308,220 x Current Liabilities: Customers' Overpayments $ 308,220x esscourse.com/platformmod/guiz/attempt.php?attempt1464817&page; 5

Explanation / Answer

Account receivable Doubtfull Doubtfull Current          264,000 2%            5,280 0-60 days due            30,000 6%            1,800 61-180 days due            13,200 15%            1,980 More than 180 days due            10,400 30%            3,120          317,600          12,180 Already provisioned            2,800 Additional Provision required            9,380 Bad debts        Dr              9,380      To Allowance for doubtful debts         9,380 (Being bad debt provision increased) Current Assets Account receivable          317,600 Less Allowance for DD          (12,180) Net Account receivable          305,420

Related Questions

Navigate

• Browse (All)
• Browse P
• Subjects

---

---

Integrity-first tutoring: explanations and feedback only — we do not complete graded work. Learn more.