Project Task #10: Record Bad Debt Expense Unfortunately, you have some customers who have been unable...

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Project Task #10: Record Bad Debt Expense Unfortunately, you have some customers who have been unable or unwilling to pay their bills for services you have provided. You decide it's time to create an Allowance for Doubtful Accounts and to start expensing bad debts. You review the Accounts Receivable account balance in the G/L. and note that the balance at the end of last month wes 522,867 1. Prepare the adjusting entry to record bad debts expense of 2% of accounts receivable (round to the nearest 5). Account Name Credit Debit S Record bad debt expense at 2% of ending A/R 2. A week after you set up the Allowance for Doubtful Accounts, one of your customers who cowes $100 tells you they are going bankrupt and will not be able to pay you. Prepare the journal entry to write off the uncollectible account Account Name Debit Credit $ Remove Accounts Receivable for uncollectible account 3. If there is no other bad debe activity during the month, what is the month end Allowance for Doubtful Accounts account balance? Project Task #10: Record Bad Debt Expense Unfortunately, you have some customers who have been unable or unwilling to pay their bills for services you have provided. You decide it's time to create an Allowance for Doubtful Accounts and to start expensing bad debts. You review the Accounts Receivable account balance in the G/L. and note that the balance at the end of last month wes 522,867 1. Prepare the adjusting entry to record bad debts expense of 2% of accounts receivable (round to the nearest 5). Account Name Credit Debit S Record bad debt expense at 2% of ending A/R 2. A week after you set up the Allowance for Doubtful Accounts, one of your customers who cowes $100 tells you they are going bankrupt and will not be able to pay you. Prepare the journal entry to write off the uncollectible account Account Name Debit Credit $ Remove Accounts Receivable for uncollectible account 3. If there is no other bad debe activity during the month, what is the month end Allowance for Doubtful Accounts account balance?