esims5745 esims5745

23-07-2022
Business

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The ledger of the Blue Spruce Corp. at the end of the current year shows Accounts Receivable of $237,000.
(a)
If Allowance for Doubtful Accounts has a credit balance of $4,700 in the trial balance and bad debts are expected to be 9% of accounts receivable, journalize the adjusting entry for the end of the period. (Credit account titles are automatically indented when the amount is entered. Do not indent manually.)

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kafeeromarksman kafeeromarksman

23-07-2022

Answer: Dr: increase in provision for bad debts of 16630

Cr: P & L a/c 16630

Explanation:

finally reduce the figure for a/c receivables by 21330

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