Peets Coffee & Tea, Inc., is a specialty coffee roaster and marketer of branded fresh-roasted whole bean
Question:
Peet’s Coffee & Tea, Inc., is a specialty coffee roaster and marketer of branded fresh-roasted whole bean coffee. It recently disclosed the following information concerning the Allowance for Doubtful Accounts on its Form 10-K Annual Report submitted to the Securities and Exchange Commission.
A summary of the Allowance for Doubtful Accounts is as follows (dollars in thousands):
Required:
1. Record summary journal entries related to bad debts for year 3.
2. Supply the missing dollar amounts noted by (?) for year 1 and year2.
Transcribed Image Text:
Allowance for Douhtful Accounts Balance at Beginning of Perio $128 132 283 Additions (Charges) to Expense Balance at End of Period Write-Offs Year 1 Year 2 Year 3 S132 283 124 187 42 201
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1 Bad debt expense E SE 42 Allowance for doubtful accounts XA A 42 Endof...View the full answer
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Related Book For
Financial Accounting
ISBN: 978-0078025556
8th edition
Authors: Robert Libby, Patricia Libby, Daniel Short
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