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Adjusting entry-worksheet

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Adjusting Entry & 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: EM133253948

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