The following summarizes the aging of accounts receivable for Johnston Supplies,Inc.as of July 31,2019:
Required:
Part a.The unadjusted balance of the Allowance for Doubtful Accounts of Johnston Supplies,Inc.is a credit balance in the amount of $28,947 on July 31,2019.Prepare the required adjusting entry to record Bad Debt Expense for the year.
Part b.Johnston Supplies,Inc.writes off $3,081 of uncollectible accounts on August 15,2019.Prepare the required adjusting entry to record the write-off.
Part c.Use a T-account to determine the account balance in the Allowance for Doubtful Accounts on August 15,2019.

Question

The following summarizes the aging of accounts receivable for Johnston Supplies,Inc.as of July 31,2019:
  Required:
Part a.The unadjusted balance of the Allowance for Doubtful Accounts of Johnston Supplies,Inc.is a credit balance in the amount of $28,947 on July 31,2019.Prepare the required adjusting entry to record Bad Debt Expense for the year.
Part b.Johnston Supplies,Inc.writes off $3,081 of uncollectible accounts on August 15,2019.Prepare the required adjusting entry to record the write-off.
Part c.Use a T-account to determine the account balance in the Allowance for Doubtful Accounts on August 15,2019.

Quizplus · Accepted Answer

The Answer of The following summarizes the aging of accounts receivable for Johnston Supplies,Inc.as of July 31,2019:
  Required:
Part a.The unadjusted balance of the Allowance for Doubtful Accounts of Johnston Supplies,Inc.is a credit balance in the amount of $28,947 on July 31,2019.Prepare the required adjusting entry to record Bad Debt Expense for the year.
Part b.Johnston Supplies,Inc.writes off $3,081 of uncollectible accounts on August 15,2019.Prepare the required adjusting entry to record the write-off.
Part c.Use a T-account to determine the account balance in the Allowance for Doubtful Accounts on August 15,2019.

The Following Summarizes the Aging of Accounts Receivable for Johnston