Title: At January 1, Everbright Sales has the following balances:DateAccounts ... Post by: gOOvER on Sep 20, 2017 At January 1, Everbright Sales has the following balances:
Date Accounts Receivable Debit Credit Balance 18,000 Dr. Date Allowance for Doubtful Accounts Debit Credit Balance 1,200 Cr. Date Bad Debts Expense Debit Credit Balance During the year, Everbright has $150,000 of credit sales, collections of $140,000, and write-offs of $3,000. Everbright records bad debt expense at the end of the year using the aging method. At the end of the year, the aging analysis produces a figure of $1,900, being the estimate of uncollectible accounts at end of year. Required: 1. What is the December 31 journal entry to record the bad debts expense? 2. Present the Everbright accounts receivable in a partial balance sheet at December 31st. Title: Re: At January 1, Everbright Sales has the following balances:DateAccounts ... Post by: Hanoi on Sep 20, 2017 Content hidden
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