Question: Please Help with Accounting Year round Retreats had the following balances at December 31 , 2024, before the year-end adjustments: (Click the icon to view
Year round Retreats had the following balances at December 31 , 2024, before the year-end adjustments: (Click the icon to view the balances.) The aging of accounts receivable yields the following data: (Click the icon to view the accounts receivable aging schedule.) Requirements 1. Joumalize Year round's entry to record bad debts expense for 2024 using the aging-of-receivables method. 2. Prepare a T-account to compute the ending balance of Allowance for Bad Debts. Requirement 1. Journalize Year round's entry to record bad debts expense for 2024 using the aging-of-receivables method. Data table Accounts Receivable Estimated percent uncollectible Data table Accounts Receivable 80,000 Print Age of Accounts Receivable 0-60 Days 78,000 X 40/0 Print Over 60 Days 2,000 Done Total Receivables 80,000 Date Dec. Accounts Debit Credit 31 Requirement 2. Prepare a T-account to compute the ending balance of Allowance for Bad Debts. Allowance for Bad Debts Allowance for Bad Debts 2,334 Done
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