Logo
Home Study Material Contact Search
AI Chat FREE
  1. business
  2. accounting
  3. blue, inc. had net sales in 2020 of $ 1.506,300, a

Blue, Inc. had net sales in 2020 of $ 1.506,300, At December 31, 2020, before...

50.1K

Verified Solution

Question

Accounting

image
Blue, Inc. had net sales in 2020 of $ 1.506,300, At December 31, 2020, before adjusting entries, the balances in selected accounts were Accounts Receivable $311,100 debit, and Allowance for Doubtful Accounts $ 2,490 credit. If Blue estimates that 8% of its receivables will prove to be uncollectible. Prepare the December 31, 2020, journal entry to record bad debt expense. (if no entry is required, select "No Entry for the account titles and enter O for the amounts. Credit account titles are automatically indented when the amount is entered. Do not indent manually.) Date Account Titles and Explanation Debit Credit Dec 31, 2020

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