Using the data in Exercise 9-11, assume that the allowance for doubtful accounts for Performance Bike Co.
Question:
Using the data in Exercise 9-11, assume that the allowance for doubtful accounts for Performance Bike Co. had a debit balance of $28,400 as of December 31. Journalize the adjusting entry for uncollectible accounts as of December 31.
Exercise 9-11
Performance Bike Co. is a wholesaler of motorcycle supplies. An aging of the company’s accounts receivable on December 31 and historical analysis of the percentage of uncollectible accounts in each age category are as follows:
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Financial Accounting
ISBN: 9781337913102
16th Edition
Authors: Carl S. Warren, Christine Jonick, Jennifer Schneider
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