Question

Perkinson Corporation sells paper products to a large number of retailers. Perkinson’s accountant has prepared the following aging schedule for its accounts receivable at the end of the year.
Before adjusting entries are entered, the balance in the allowance for doubtful accounts is a debit of $480.
Required:
1. Calculate the desired postadjustment balance in Perkinson’s allowance for doubtful accounts.
2. Determine bad debt expense for the year.


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  • CreatedSeptember 22, 2015
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