Question

Determine the amount to be added to Allowance for Doubtful Accounts in each of the following...

Determine the amount to be added to Allowance for Doubtful Accounts in each of the following cases and indicate the ending balance in each case.

(a) Credit balance of $380 in Allowance for Doubtful Accounts just prior to adjustment. Analysis of Accounts Receivable indicates uncollectible receivables of $7,370.

Amount added $
Ending balance $

(b) Credit balance of $380 in Allowance for Doubtful Accounts just prior to adjustment. Uncollectible receivables are estimated at 3% of credit sales, which totaled $940,000 for the year.

Amount added $
Ending balance

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