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Kingbird, Inc. has been in business several years. At the end of the current year,...

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Accounting

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Kingbird, Inc. has been in business several years. At the end of the current year, the unadjusted balances show: Accounts Receivable Sales Revenue Allowance for Doubtful Accounts $299,500 2,224,600 5,834 Bad debts are estimated to be 7% of receivables. Record adjustment to Allowance for Doubtful Accounts in a tabular summary. (Enter negative amounts using either a negative sign preceding the number e.g. -45 or parentheses e.g. (45).) Assets = Liabilities + Allowance for doubtful accounts Accounts Receivable = + Common Stock + Beg. Bal. $ $ $ $ Adj

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