Top Posters
Since Sunday
a
5
k
5
c
5
B
5
l
5
C
4
s
4
a
4
t
4
i
4
r
4
r
4
Home Q & A Board Other Fields Homework Help Business Accounting
New Topic  
tivo tivo
wrote...
Go to Answer
Posts: 1776
Rep: 1 0
7 years ago
Charmed, Inc. had credit sales for the period of $142,000. The balance in Allowance for Doubtful Accounts is a debit of $643. If Charmed estimates that 2% of credit sales will be uncollectible, what is the required journal entry to record estimated uncollectible accounts?
A) Debit Bad Debt Expense, $2,840; credit Allowance for Uncollectible Accounts, $2,840.
B) No entry is required.
C) Debit Bad Debt Expense, $3,483; credit Allowance for Uncollectible Accounts, $3,483.
D) Debit Bad Debt Expense, $2,197; credit Allowance for Uncollectible Accounts, $2,197.
Textbook 
Financial Accounting

Financial Accounting


Edition: 3rd
Authors:
Read 131 times
2 Replies
Replies
Answer verified by a subject expert
antonio_johnantonio_john
wrote...
#1
Top Poster
Posts: 898
Rep: 47 0
7 years ago
Sign in or Sign up in seconds to unlock everything for free
More solutions for this book are available here
1
Massachusetts Institute of Technology
-- Accounting

Related Topics

tivo Author
wrote...
#2
7 years ago
I appreciate it once again, answered correctly
New Topic      
Quick Reply
Explore
Post your homework questions and get free online help from our incredible volunteers
  1120 People Browsing
Start New Topic Take the Tour CoursesNew Study Tools Topics Trending Browse by Textbook
Live Chat
Related Images
  
 688
  
 282
  
 72
Your Opinion
What's your favorite coffee beverage?
Votes: 274
Previous poll results: Does a gender wage gap exist in America?