Craigmont uses the allowance method to account for uncollectible accounts. its year-end unadjusted trial balance shows accounts receivable of 4,500, allowance for doubtful accounts of content,165 (credit) and sales of content,175,000. if uncollectible accounts are estimated to be 4% of accounts receivable, what is the amount of the bad debts expense adjusting entry?
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Answered by philipscaster83
154,500×0.04=6,180 Adjusted balance 6,180−1,165=5,015 Journal entry Bad debt expenses (Dr 5015) Allowance for doubtful accounts (Cr 5015)