Qvestion 1 (of 4) 4.00 points Rogale Foods, Inc. sells Oscar Mayer, Jell-O, Tasa
ID: 2566526 • Letter: Q
Question
Qvestion 1 (of 4) 4.00 points Rogale Foods, Inc. sells Oscar Mayer, Jell-O, Tasaimo, and many oer food brands. The company reported the following nounded amounts as of December 29, 2012(all amounts in millions) 1,090 Allowance for Doubtlul Accounits Sales (assume all on oredit) 27 18,000 182. Prepare the adjusting joumal entry required at December 31, 2012, for recording Bad Debt Expense f no enbry la reguired for a transactionlevent, select "No Journal Entry Required" in the first aese a field Enter your anawers in millions pa, 10,000,000 should be entered as 10). Round your anawers to the nearest whale numbar) 0) Asarme Rogala s 14 of 1 percent of sales toe mate its Bed Debt Ep the year. ) Assume instead that Rogala uses the aging ofl aocounts receivable method and estimates that $72 of Journal entry worksheet Record the entry for bad debt expenses under the percentage of credit sales Note. Enter debits before crsdits MacBook Air esc FI F2 F3 OOD FA F5 F6Explanation / Answer
45
Calc:0.25% of 18000 = 45
(Being bad debt expense recorded for the year)
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Date Particulars Debit Credit 31-12-2012 Bad debt expense A/c Dr. 45 To Allowance for doubtful debts A/c45
Calc:0.25% of 18000 = 45
(Being bad debt expense recorded for the year)
31-12-2012 Bad debt expense A/c Dr.... 72 To Allowance for doubtful debts A/c 72 (Being bad debt expense recorded for the year)Related Questions
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