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Adjusting entry and worksheet

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Adjusting Entry and Worksheet

At year-end, the allowance for bad debts account of Pelayo Trading had a credit balance of P2,500 just prior to the adjusting entry to provide for bad debts expense for the year.

Enter the required Adjusting journal entry if it is estimated that 1/2 of 1% of service income, totaling P780,000 will result in bad debts

Enter the required Adjusting journal entry if it is estimated that 4% of accounts receivable, totaling P120,000, will prove uncollectible.

Enter the required Adjusting journal entry if the allowance for bad debts is to be increased to P5,400, as indicated by an aging schedule.

Enter the required Adjusting journal entry if the allowance for bad debts is to be increased by P5,400, as indicated by an aging schedule.

Reference no: EM133272789

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