Question

An aging of a company's accounts receivable indicates that estimate of the uncollectible accounts totals $4,418....

An aging of a company's accounts receivable indicates that estimate of the uncollectible accounts totals $4,418. If Allowance for Doubtful Accounts has a $1,244 credit balance, the adjustment to record the bad debt expense for the period will require a

Select the correct answer.

credit to Allowance for Doubtful for $4,418.

debit to Allowance for Doubtful Accounts for $4,418

debit to Bad Debt Expense for $3,174.

debit to Allowance for Doubtful Accounts for $3,174.

Homework Answers

Answer #1
Accounts Titles and Explanations Debit (in $) Credit (in $)
Bad Debt Expense
( $ 4,418 (-) $ 1,244 )
$ 3,174
         Allowance for Doubtful Accounts $ 3,174
Option ( C) is Correct
debit to Bad Debt Expense for $3,174
Bad Debts expense
    = Uncollectible Accounts (-) Allowance for Doubt. Bal.
    = $ 4,418 (-) $ 1,244
    = $ 3,174
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