B) Prepare the year-end adjusting journal entry to record the bad debts using the aged uncollectible accounts
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B) Prepare the year-end adjusting journal entry to record the bad debts using the aged uncollectible accounts receivable determined in above. Assume the unadjusted balance in Allowance for Doubtful Accounts is a $3,900 Debit.
C) Of the above accounts, 5,200 is determined to be specifically uncollectible. Prepare the journal entry to write off the uncollectible account.
D) The company collects $5,200 subsequently on a specific account that had previously been determined to be uncollectible in part (c) Prepare the journal entry(ies) necessary to (1) restore the account and (2) record the cash collection.
Related Book For
Accounting Tools for Business Decision Making
ISBN: 978-1118128169
5th edition
Authors: Paul D. Kimmel, Jerry J. Weygandt, Donald E. Kieso
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