Question: Quick! how do I answer this question? need help finishing ones in red and ones with grey dotted line around box (#'s for b and

Quick! how do I answer this question? need help finishing ones in red and ones with grey dotted line around box (#'s for b and c)

thanks!

Quick! how do I answer this question? need help finishing ones in

Your answer is partially correct. Try again. The ledger of Costello Company at the end of the current year shows Accounts Receivable $110,000; Sales Revenue $840,000; and Sales Returns and Allowances $20,000. (a) If Costello Company uses the direct write-off method to account for uncollectible accounts, journalize the adjusting entry at December 31, assuming Costello Company determines that L. Dole's $1,400 balance is uncollectible. (b) If Allowance for Doubtful Accounts has a credit balance of $2,100 in the trial balance, journalize the adjusting entry at December 31, assuming bad debts are expected to be 10% of accounts receivable. (c) If Allowance for Doubtful Accounts has a debit balance of $200 in the trial balance, journalize the adjusting entry at December 31, assuming bad debts are expected to be 6% of accounts receivable. (Credit account titles are automatically indented when amount is entered. Do not indent manually.) No. Account Titles and Explanation Debit (a) Bad Debt Expense Accounls Receivable 1400 J (b) Bad Debt Expense 8200 J Allowance for Doubtful Accounts 8200 J (c) Bad Debt Expense UIXUI z' \"E v II! . Allowance for Doubtful Accounts _ _

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