Question

# CAN SOMEONE ANSWER THESE PROBLEMS AND EXPLAIN THE DIFFERENCE BETWEEN THEM BECAUSE THEY SOUND THE SAME....

CAN SOMEONE ANSWER THESE PROBLEMS AND EXPLAIN THE DIFFERENCE BETWEEN THEM BECAUSE THEY SOUND THE SAME. PLEASE POST JOURNAL ENTRIES AND T-ACCOUNTS WITH AN IN-DEPTH EXPLANATION. THANKS!

Brown Company's account balances at December 31, 2014 for Accounts Receivable and the related Allowance for Doubtful Accounts are \$920,000 debit and \$1,400 credit, respectively. From an aging of accounts receivable, it is estimated that \$23,000 of the December 31 receivables will be uncollectible. The necessary adjusting entry would include a credit to the allowance account for

A) \$23,000
B) \$24,400
C) \$21,600
D) \$1,400

Chen Company's account balances at December 31, 2014 for Accounts Receivable and the Allowance for Doubtful Accounts are \$480,000 debit and \$900 credit. Sales during 2014 were \$1,650,000. It is estimated that 1% of sales will be uncollectible. The adjusting entry would include a credit to the allowance account for:

A. \$17,400
B. \$16,500
C. \$15,600
D. \$4,800

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