Question

Given the information presented in Figure 13.13, do the following:


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 $260 debit balance, journalize the adjusting entry for Bad Debts Expense on December 31, 2012.
Balances: Cash, $25,000; Accounts Receivable, $191,000; Allowance for Doubtful Accounts, $260; Inventory,$11,000.


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  • CreatedApril 24, 2014
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