agement estimated that 2.75% of its net sales of $18,000 would not be collected.

Alpaca Consulting Inc reported net sales of $1,500,000 for the year. Also, at at the end of the year, the company reported balances of $390,000 and $3,800 of accounts receivables and allowance for doubtful accounts, respectively. All amounts and balances have normal balances. REQUIRED: 1. Assume the company estimates its bad debts as 1.20% of net sales. Record the required adjusting entry to record bad debts. The journal must be properly formatted. 2. Assume the company estimates its uncollectible accounts as 5% of accounts receivable. Record the required adjusting entry to record bad debts. The journal must be properly formatted.

Earrings Depot records bad debt using the allowance, balance sheet method. They recorded $97,440 in accounts receivable for the year and $288,550 in credit sales. The uncollectible percentage is 5.5%. What is the bad debt estimation for the year using the balance sheet method?

Maple Co. provides for bad debts expense at the rate of 5.75% of ending Accounts Receivable. On Jan 1, 20X1, the Allowance for Bad Debts was $18,000. There were $16,000 of accounts written off during the year. Credit sales for the year were $530,000. Ending Accounts Receivable was $120,000. What is the amount of Bad Debt Expense for the year?

At the end of the current year, the accounts receivable account has a debit balance of $1,191,000 and sales for the year total $13,510,000. a. The allowance account before adjustment has a debit balance of $16,100. Bad debt expense is estimated at 1/2 of 1% of sales. b. The allowance account before adjustment has a debit balance of $16,100. An aging of the accounts in the customer ledger indicates estimated doubtful accounts of $51,500. c. The allowance account before adjustment has a credit balance of $8,600. Bad debt expense is estimated at 3/4 of 1% of sales. d. The allowance account before adjustment has a credit balance of $8,600. An aging of the accounts in the customer ledger indicates estimated doubtful accounts of $71,400. Determine the amount of the adjusting entry to provide for doubtful accounts under each of the assumptions (a through d) listed above. 51,450 X a. b. $ C. $ d. $ Feedback

Providing for Doubtful Accounts At the end of the current year, the accounts receivable account has a debit balance of $777,000 and sales for the year total $8,810,000. a. The allowance account before adjustment has a credit balance of $10,500. Bad debt expense is estimated at 3/4 of 1% of sales. b. The allowance account before adjustment has a credit balance of $10,500. An aging of the accounts in the customer ledger indicates estimated doubtful accounts of $33,600. c. The allowance account before adjustment has a debit balance of $5,700. Bad debt expense is estimated at 1/4 of 1% of sales. d. The allowance account before adjustment has a debit balance of $5,700. An aging of the accounts in the customer ledger indicates estimated doubtful accounts of $47,300. Determine the amount of the adjusting entry to provide for doubtful accounts under each of the assumptions (a through d) listed above. a. $ b. $ d. $ %24

Providing for Doubtful Accounts At the end of the current year, the accounts receivable account has a debit balance of $1,162,000 and sales for the year total $13,170,000. The allowance account before adjustment has a credit balance of $15,700. Bad debt expense is estimated at 1/2 of 1% of sales. The allowance account before adjustment has a credit balance of $15,700. An aging of the accounts in the customer ledger indicates estimated doubtful accounts of $50,200. The allowance account before adjustment has a debit balance of $9,100. Bad debt expense is estimated at 1/4 of 1% of sales. The allowance account before adjustment has a debit balance of $9,100. An aging of the accounts in the customer ledger indicates estimated doubtful accounts of $75,500. Determine the amount of the adjusting entry to provide for doubtful accounts under each of the assumptions (a through d) listed above. a. $ b. $ c. $ d. $