The following information is available for the Bench Company:

During 2014,Bench estimated that its bad debt expense should be 1% of all credit sales and made the appropriate monthly adjusting entries.As a result of a review and aging of accounts receivable in early January 2015,it has been determined that an allowance for uncollectible accounts of $3,200 is needed at December 31,2014.
Required:
What is the journal entry that Bench should make after the aging is completed?

Question

The following information is available for the Bench Company:
 
During 2014,Bench estimated that its bad debt expense should be 1% of all credit sales and made the appropriate monthly adjusting entries.As a result of a review and aging of accounts receivable in early January 2015,it has been determined that an allowance for uncollectible accounts of $3,200 is needed at December 31,2014.
Required:
What is the journal entry that Bench should make after the aging is completed?

Quizplus · Accepted Answer

The Answer of The following information is available for the Bench Company:
 
During 2014,Bench estimated that its bad debt expense should be 1% of all credit sales and made the appropriate monthly adjusting entries.As a result of a review and aging of accounts receivable in early January 2015,it has been determined that an allowance for uncollectible accounts of $3,200 is needed at December 31,2014.
Required:
What is the journal entry that Bench should make after the aging is completed?

The Following Information Is Available for the Bench Company