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Gregg Company uses the allowance method for recording its L02

Berikut ini adalah pertanyaan dari azzahramuthia12 pada mata pelajaran Ekonomi untuk jenjang Sekolah Menengah Atas

Gregg Company uses the allowance method for recording its L02 expected credit losses. It estimates credit losses at three percent of credit sales, which were $900,000 during the year. On December 31 , the Accounts Receivable balance was $150,000, and the Allowance for Doubtful Accounts had a credit balance of $12,200 before adjustment.

Jawaban dan Penjelasan

Berikut ini adalah pilihan jawaban terbaik dari pertanyaan diatas.

Jawaban:

( A. the journal entry is shown bellow. )

Penjelasan:

Bad debt expense Dr. $27,000

To allowance for Doubtful Accounts

$27,000 ( $900,000 × 3% )

( To record account deemed to be uncollectible )

B. The presentation of accounts receivable

and the allowance for doubtful accounts would

appear in the December 31 is shown bellow.

Accounts receivable $150,000

Allowance for Doubtful Accounts

$39,200 ( $12, 200 + $27,000 )

Net accounts receivable $110, 800.

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Last Update: Tue, 07 Feb 23
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