The trial balance before adjustment of saturn corp shows the following balances. Accounts Receivable Allowance for Doubtful Accounts Sales Revenue (all on credit) Dr. P97,400 3,300 Cr. P643,200 Give the entry for estimated bad debts assuming that the allowance is to provide for doubtful accounts on the basis of (a) 4% of gross accounts receivable and (b) 5% of gross accounts receivable and Allowance for Doubtful Accounts has a P1,857 credit balance.

idiyah Co. estimates that RO 6,500 of its accounts receivable to be uncollectible. If Allowance for Doubtful Accounts has a RO 200 debit balance, the company should record a elect one: O a. None of the answers are correct O b. debit to Bad Debt Expense for RO 5,300. O c credit to Allowance for Doubtful Accounts for RO 6,500. O d. debit to Allowance for Doubtful Accounts for RO 5,300. O e. credit to Bad Debt Expense for RO 7,700.

Using the percentage-of-receivables method for recording bad debt expense, estimated uncollectible accounts are $16700. If the balance of the Allowance for Doubtful Accounts is $2070 credit before adjustment, what is the amount of bad debt expense for that period?     $16700   $2070   $14630   $18770

One company has estimated that $3150 of its accounts receiable will be uncollectible. If allownace for doubtful accounts already has a credit balance of $1102, and the percentage of receivables method is used, it sadjustment to recrod for the period will require a debit to what for what amount?

hi Can you assist me in undertanding better how you calculated the written off amount ? Why is the formula addind the opening and closing balance of the allowance for doubtful accounts and substract the allowance estimated ? You mentionned the bad debt was equal to total estimated allowance for doubtful accounts- balance in allowance for doubtful account . Is this the same formula to use for the write off ? Many thanks

The trial balance before adjustment of Monty Inc. shows the following balances. Accounts Receivable Allowance for Doubtful Accounts Sales Revenue (all on credit) (a) Dr. (b) $106,200 2,065 Cr. Give the entry for estimated bad debts assuming that the allowance is to provide for doubtful accounts on the basis of (a) 4% of gross accounts receivable and (b) 5% of gross accounts receivable and Allowance for Doubtful Accounts has a $1,955 credit balance. (If no entry is required, select "No Entry" for the account titles and enter O for the amounts. Credit account titles are automatically indented when the amount is entered. Do not indent manually.) No. Account Titles and Explanation $802,400 Debit Credit

U Your answer is partially correct. Sandhill Corp uses the percentage-of-receivables basis to record bad debt expense. Accounts receivable (ending balance) Allowance for doubtful accounts (unadjusted) The company estimates that 3% of accounts receivable will become uncollectible. (a) Prepare the adjusting journal entry to record bad debt expense for the year. (List debit entry before credit entry. Credit account titles are automatically indented when amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter O for the amounts.) Account Titles and Explanation $565,000 (debit) 4,900 (debit) Bad Debt Expense Allowance for Doubtful Accounts Debit 21850 Credit 21850

Please

The trial balance before adjustment of Ehrlich Company reports the following balances:                                                                                           Dr.                   Cr.    Accounts receivable                                                $420,000 Allowance for doubtful accounts (debit balance)    $  5,000 Sales (all on credit)                                                                         2,000,000 Sales returns and allowances                                     70,000   Instructions – show all calculations   a. Prepare the entry for estimated bad debts assuming that doubtful accounts are estimated to be 5% of gross accounts receivable.   b. Prepare the entry for the estimated bad debts assuming that the company estimates bad debts based on the percentage of sales method, using 2% of net sales.

You are appointed as the accountant of LALA-BTS Company. You noted that the Company estimated that 3% of its credit sales will not be collectible. Further documents showed the following balances before adjustments: •Credit Sales P2,500,000 •Accounts Receivable P300,000 •Allowance for doubtful accounts - 10,000 debit Determine the net realizable value of the accounts receivable.