Balloons Plus computes bad debt based on the allowance method. They determine their current years balance estimation
Question:
Balloons Plus computes bad debt based on the allowance method. They determine their current year’s balance estimation to be a credit of $84,000. The previous period had a credit balance in Allowance for Doubtful Accounts of $26,000. What should be the reported figure in the adjusting entry for the current period?
A. $84,000
B. $58,000
C. $26,000
D. $110,000
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Related Book For 
Principles Of Accounting Volume 1 Financial Accounting
ISBN: 9781593995942
1st Edition
Authors: Mitchell Franklin, Patty Graybeal, Dixon Cooper, OpenStax
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