Question: I need help with an accounting question please, please focus only on required 2 . that is says: prepare the adjusting entry to record bad
I need help with an accounting question please, please focus only on required that is says: prepare the adjusting entry to record bad debts expense assuming the unadjusted balance in the allowance for doubtful accounts is a $ credit. In the general for the first entry is bad debts expense and the last column is allowance for doubtful accounts. so the thing i put $ in both columns of the debit and credit entries and its wrong. this is what I need help with. thank you and take your time.
QS Algo Aging of receivables method LO P
Net Zero Products, a wholesaler of sustainable raw materials, prepares the following aging of receivables analysis.
tableDays Past DueTotal, to to to Over Accounts receivable,$$$$$$Percent uncollectible,,
Estimate the balance of the Allowance for Doubtful Accounts using the aging of accounts receivable method.
Prepare the adjusting entry to record bad debts expense assuming the unadjusted balance in the Allowance for Doubtful Accounts is a $ credit.
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Prepare the adjusting entry to record bad debts expense assuming the unadjusted balance in the Allowance for Doubtful Accounts is a $ credit.
tableNoDate,General Journal,Debit,CreditDecember Bad debts expense,Allowance for doubtful accounts,
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