At December 31, 2014, Finzelberg Company had a credit balance of $15,000 in Allowance for Doubtful Accounts.

Question:

At December 31, 2014, Finzelberg Company had a credit balance of $15,000 in Allowance for Doubtful Accounts. During 2015, Finzelberg wrote off accounts totaling $11,000. One of those accounts ($1,800) was later collected. At December 31, 2015, an aging schedule indicated that the balance in Allowance for Doubtful Accounts should be $19,000.

Instructions
Prepare journal entries to record the 2015 transactions of Finzelberg Company.

Aging Schedule
Aging schedule is an accounting table that shows a company’s account receivables. It is an summarized presentation of accounts receivable into a separate time brackets that the rank received based upon the days due or the days past due. Generally...
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Financial Accounting

ISBN: 9781118334324

9th Edition

Authors: Jerry J. Weygandt, Paul D. Kimmel, Donald E. Kieso

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