Essay
The following summarizes the aging of accounts receivable for Johnston Supplies,Inc.as of July 31,2016:
Required:
Part a.The unadjusted balance of the Allowance for Doubtful Accounts of Johnston Supplies,Inc.is a credit balance in the amount of $28,947 on July 31,2016.Prepare the required adjusting entry to record Bad Debt Expense for the year.
Part b.Johnston Supplies,Inc.writes off $3,081 of uncollectible accounts during on August 15,2016.Prepare the required adjusting entry to record the write-off.
Part c.Use a T-account to determine the account balance in the Allowance for Doubtful Accounts on August 15,2016.
Correct Answer:
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Part a
Estimated amount uncollectible is...View Answer
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Correct Answer:
Verified
Estimated amount uncollectible is...
View Answer
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