At December 31, 2017, the trial balance of Windsor, Inc. contained the following amounts before adjustment. Debit Credit Accounts Receivable $178,900 Allowance for Doubtful Accounts $ 1,610 Sales Revenue 915,400 (a) Prepare the adjusting entry at December 31, 2017, to record bad debt expense, assuming that the aging schedule indicates that $10,260 of accounts receivable will be uncollectible. (b) Repeat part (a), assuming that instead of a credit balance there is a $1,610 debit balance in Allowance for Doubtful Accounts. (c) During the next month, January 2018, a $1,940 account receivable is written off as uncollectible. Prepare the journal entry to record the write-off. (d) Repeat part (c), assuming that Windsor, Inc. uses the direct write-off method instead of the allowance method in accounting for uncollectible accounts receivable. (Credit account titles are automatically indented when amount is entered. Do not indent manually.) No. Account Titles and Explanation Debit Credit (a) enter an account title for the adjusting entry to record bad debt expense enter a debit amount enter a credit amount enter an account title for the adjusting entry to record bad debt expense enter a debit amount enter a credit amount (b) enter an account title for the adjusting entry assuming option b enter a debit amount enter a credit amount enter an account title for the adjusting entry assuming option b enter a debit amount enter a credit amount (c) enter an account title to record the write-off enter a debit amount enter a credit amount enter an account title to record the write-off enter a debit amount enter a credit amount (d) enter an account title for the jounral entry assuming option d enter a debit amount enter a credit amount enter an account title for the jounral entry assuming option d enter a debit amount enter a credit amount

At December 31, 2017, the trial balance of Windsor, Inc. contained the following amounts before adjustment. Debit Credit Accounts Receivable $178,900 Allowance for Doubtful Accounts $ 1,610 Sales Revenue 915,400 (a) Prepare the adjusting entry at December 31, 2017, to record bad debt expense, assuming that the aging schedule indicates that $10,260 of accounts receivable will be uncollectible. (b) Repeat part (a), assuming that instead of a credit balance there is a $1,610 debit balance in Allowance for Doubtful Accounts. (c) During the next month, January 2018, a $1,940 account receivable is written off as uncollectible. Prepare the journal entry to record the write-off. (d) Repeat part (c), assuming that Windsor, Inc. uses the direct write-off method instead of the allowance method in accounting for uncollectible accounts receivable. (Credit account titles are automatically indented when amount is entered. Do not indent manually.) No. Account Titles and Explanation Debit Credit (a) enter an account title for the adjusting entry to record bad debt expense enter a debit amount enter a credit amount enter an account title for the adjusting entry to record bad debt expense enter a debit amount enter a credit amount (b) enter an account title for the adjusting entry assuming option b enter a debit amount enter a credit amount enter an account title for the adjusting entry assuming option b enter a debit amount enter a credit amount (c) enter an account title to record the write-off enter a debit amount enter a credit amount enter an account title to record the write-off enter a debit amount enter a credit amount (d) enter an account title for the jounral entry assuming option d enter a debit amount enter a credit amount enter an account title for the jounral entry assuming option d enter a debit amount enter a credit amount

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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At December 31, 2017, the trial balance of Windsor, Inc. contained the following amounts before adjustment.

	Debit	Credit
Accounts Receivable	$178,900
Allowance for Doubtful Accounts		$ 1,610
Sales Revenue		915,400

(a)	Prepare the adjusting entry at December 31, 2017, to record bad debt expense, assuming that the aging schedule indicates that $10,260 of accounts receivable will be uncollectible.
(b)	Repeat part (a), assuming that instead of a credit balance there is a $1,610 debit balance in Allowance for Doubtful Accounts.
(c)	During the next month, January 2018, a $1,940 account receivable is written off as uncollectible. Prepare the journal entry to record the write-off.
(d)	Repeat part (c), assuming that Windsor, Inc. uses the direct write-off method instead of the allowance method in accounting for uncollectible accounts receivable.

(Credit account titles are automatically indented when amount is entered. Do not indent manually.)

No.	Account Titles and Explanation	Debit	Credit
(a)	enter an account title for the adjusting entry to record bad debt expense	enter a debit amount	enter a credit amount
	enter an account title for the adjusting entry to record bad debt expense	enter a debit amount	enter a credit amount
(b)	enter an account title for the adjusting entry assuming option b	enter a debit amount	enter a credit amount
	enter an account title for the adjusting entry assuming option b	enter a debit amount	enter a credit amount
(c)	enter an account title to record the write-off	enter a debit amount	enter a credit amount
	enter an account title to record the write-off	enter a debit amount	enter a credit amount
(d)	enter an account title for the jounral entry assuming option d	enter a debit amount	enter a credit amount
	enter an account title for the jounral entry assuming option d	enter a debit amount	enter a credit amount

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