1. on January 1, 2016, the balance in buying companies allowance for bad debts account...

70.2K

Verified Solution

Question

Accounting

1. on January 1, 2016, the balance in buying companies allowance for bad debts account was $13,329. During the first 11 months of the year bad debts expense of $21,037 was recognized. The balance in the allowance for bad that's account at November 30, 2016 was $9807.
What was the total of accounts written off during the first 11 months?
Bad debts write off=
2. as the result of a comprehensive analysis, it is determined that the December 31, 2016, balance of the allowance for bad debts account should be $9349. Show the adjustment required in the journal entry format;

Answer & Explanation Solved by verified expert
Get Answers to Unlimited Questions

Join us to gain access to millions of questions and expert answers. Enjoy exclusive benefits tailored just for you!

Membership Benefits:
  • Unlimited Question Access with detailed Answers
  • Zin AI - 3 Million Words
  • 10 Dall-E 3 Images
  • 20 Plot Generations
  • Conversation with Dialogue Memory
  • No Ads, Ever!
  • Access to Our Best AI Platform: Flex AI - Your personal assistant for all your inquiries!
Become a Member

Other questions asked by students