Financial Accounting (12th Edition) (What's New in Accounting)
12th Edition
ISBN: 9780134725987
Author: C. William Thomas, Wendy M. Tietz, Walter T. Harrison Jr.
Publisher: PEARSON
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Chapter 5, Problem 11QC
Refer to Question 10. Using the aging-of-receivables method, the balance of the Allowance account after the
- a. $1,260.
- b. 52,160.
- c. $360.
- d. $9,260.
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Required:
1. Calculate Ingrid's balance in accounts receivable on December 31, 2019, prior to the adjustment.
2$
838,000 X
2. Calculate Ingrid's balance in allowance for doubtful accounts on December 31, 2019, prior to the adjustment.
$
Answer only please.
Prepare the Adjusting Journal Entry for the following:
1. Accounts Receivable has a balance of P78,000. It is
estimated that 3% of this will be uncollectible.
2. Accounts Receivable and its corresponding allowance
have balances of P229,000 and P5,000 respectively. It
is estimated that 7.5% of this will be uncollectible.
Chapter 5 Solutions
Financial Accounting (12th Edition) (What's New in Accounting)
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