E6-9 (Algo) Recording Bad Debt Expense Estimates and Write-Offs Using the Percentage of Credit Sales...
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E6-9 (Algo) Recording Bad Debt Expense Estimates and Write-Offs Using the Percentage of Credit Sales Method L06-2 Prepare journal entries for each transaction: Note: If no entry is required for a transaction/event, select "No journal entry required" in the first account field. 1. On September 29 , an account receivable for $1,900 was determined to be worthless and written off. 2. The company estimates 2% of credit sales are uncollectible. At year-end (December 31 ), it recorded the appropriate bad debt expense adjustment. Credit sales for the year were $860,000. On December 30 , there were $600 of accounts receivable not yet collected and the balance in the allowance for doubtful accounts was \$14. Journal entry worksheet Record the entry to write-off the uncollectible account. Note: Enter debits before credits. E6-9 (Algo) Recording Bad Debt Expense Estimates and Write-Offs Using the Percentage of Credit Sales Method L06-2 Prepare journal entries for each transaction: Note: If no entry is required for a transaction/event, select "No journal entry required" in the first account field. 1. On September 29 , an account receivable for $1,900 was determined to be worthless and written off. 2. The company estimates 2% of credit sales are uncollectible. At year-end (December 31 ), it recorded the appropriate bad debt expense adjustment. Credit sales for the year were $860,000. On December 30 , there were $600 of accounts receivable not yet collected and the balance in the allowance for doubtful accounts was \$14. Journal entry worksheet Record the entry for bad debt expense. Note: Enter debits before credits
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E6-9 (Algo) Recording Bad Debt Expense Estimates and Write-Offs Using the Percentage of Credit Sales Method L06-2 Prepare journal entries for each transaction: Note: If no entry is required for a transaction/event, select "No journal entry required" in the first account field. 1. On September 29 , an account receivable for $1,900 was determined to be worthless and written off. 2. The company estimates 2% of credit sales are uncollectible. At year-end (December 31 ), it recorded the appropriate bad debt expense adjustment. Credit sales for the year were $860,000. On December 30 , there were $600 of accounts receivable not yet collected and the balance in the allowance for doubtful accounts was \$14. Journal entry worksheet Record the entry to write-off the uncollectible account. Note: Enter debits before credits. E6-9 (Algo) Recording Bad Debt Expense Estimates and Write-Offs Using the Percentage of Credit Sales Method L06-2 Prepare journal entries for each transaction: Note: If no entry is required for a transaction/event, select "No journal entry required" in the first account field. 1. On September 29 , an account receivable for $1,900 was determined to be worthless and written off. 2. The company estimates 2% of credit sales are uncollectible. At year-end (December 31 ), it recorded the appropriate bad debt expense adjustment. Credit sales for the year were $860,000. On December 30 , there were $600 of accounts receivable not yet collected and the balance in the allowance for doubtful accounts was \$14. Journal entry worksheet Record the entry for bad debt expense. Note: Enter debits before credits 