Accounting for Bad Debts issue
Company A’s Allowance for Bad Debts account was 9,720. During the year, a total
of 23,900 of delinquent receivables was written off as bad debt. The balance in
the Allowance for Bad Debt account at December 31, 2009 was 10,480.
a. What was the total amount of bad debts expense recognized
during the year if I use T accounts for the bad debt accounts and,
b. What is the actual journal entry used to show the result
of comprehensive analysis, determining that the December 31, 2009 balance of
Allowance for Bad Debts should be $23,200?
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