Allowance for Doubtful Accounts has a debit balance of $842 at the end of the...
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Accounting
Allowance for Doubtful Accounts has a debit balance of $842 at the end of the year (before adjustment), and an analysis of accounts in the customers ledger indicates uncollectible receivables of $16,139. Which of the following entries records the proper adjusting entry for bad debt expense?
Select the correct answer.
debit Bad Debt Expense, $15,297 credit Allowance for Doubtful Accounts, $15,297
debit Bad Debt Expense, $16,981 credit Allowance for Doubtful Accounts, $16,981
debit Allowance for Doubtful Accounts, $16,139 credit Bad Debt Expense, $16,139
debit Bad Debt Expense, $842 credit Allowance for Doubtful Accounts, $842
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