A. The controller, Devin Hester, let Kristin know that theending balance in the allowance...

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Accounting

A. The controller, Devin Hester, let Kristin know that theending balance in the allowance for doubtful accounts needs to be$129,000. The beginning balance in the Allowance for doubtfulaccounts on January 1st was a credit balance of $72,500. During theyear, there were no bad debts written off and the current balancein bad debt expense is $0. What adjusting journal entry needs to bemade?

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Allowance for Doubtful accounts is a contra asset account having a credit balance This account increases when credited and decreases when debited See Answer

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In: AccountingA. The controller, Devin Hester, let Kristin know that theending balance in the allowance for...A. The controller, Devin Hester, let Kristin know that theending balance in the allowance for doubtful accounts needs to be$129,000. The beginning balance in the Allowance for doubtfulaccounts on January 1st was a credit balance of $72,500. During theyear, there were no bad debts written off and the current balancein bad debt expense is $0. What adjusting journal entry needs to bemade?