Question

Given the following information and the information in Figure complete a–c.


a. Prepare on December 31, 2012, the adjusting journal entry for Bad Debts Expense.
b. Prepare a partial balance sheet on December 31, 2012, showing how net realizable value is calculated.
c. If the balance in the Allowance for Doubtful Accounts were a $330 debit balance, journalize the adjusting entry for Bad Debts Expense on December 31, 2012.
Balances: Cash, $28,000; Accounts Receivable, $193,000; Allowance for Doubtful Accounts, $330; Merchandise Inventory,$16,000.


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  • CreatedApril 24, 2014
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