Question: Error #2 In 20X2 Rock Corp inadvertently recorded a decrease to the Allowance for Bad Debts as an increase to the Allowance for Bad Debts.

Error #2 In 20X2 Rock Corp inadvertently recorded a decrease to

Error #2 In 20X2 Rock Corp inadvertently recorded a decrease to the Allowance for Bad Debts as an increase to the Allowance for Bad Debts. $ 71,000 Required decrease to Allowance for Bad Debts Error discovered in 20X2 before the books are closed. IGNORE INCOME TAXES. Original entry was as follows in 20X2: Bad Debt Expense Allowance for Bad Debts 71,000 $ 71,000 SHOULD HAVE BEEN: $ 71,000 Allowance for Bad Debts Bad Debt Expense $ 71,000 15.) The required correcting journal entry in 20X2 is as follow

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