Question: This shows what is correct or incorrect for the work you have completed so far. It does not indicate completion. Return to question At the
This shows what is correct or incorrect for the work you have completed so far. It does not indicate completion. Return to question At the end of each year, Dutch Supply Co. uses the simplified balance sheet approach (ie, percentage of accounts receivable) to estimate bad debts On December 31, 2020, it has outstanding accounts receivable of $169,000 and estimates that 3.5% will be uncollectible. Required: a. Give the entry to record bad debt expense for 2020 under the assumption that the Allowance for Doubtful Accounts has a $2.050 debit balance before the adjustment. Answer is complete but not entirely correct. No Date General Journal Debit Credit 1 December 31, 202 Bad debt expense 5.915 O Allowance for doubtful accounts 5915 O Przy 10 of 10 Next b. Give the entry under the assumption that the Allowance for Doubtful Accounts has a $2,050 credit balance before the adjustment Answer is complete but not entirely correct. No Date General Journal 1 December 31, 202 Bad debt expense Allowance for doubtful accounts Debit Crede 2.050 2.050
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