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Determine bad debt amount and ending balance in allownace

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Problem

Halan Co had the following in its adjusted trial balance as of December 31, 2014.

                                                  DR                        CR

Accounts Receivable                       4,000,000

Allowence for doubtful Accounts                                  4.000

Net Sales                                                                5,000,000

They wrote off $ 1,000 in accounts receivable in 2014.

Bad debts is based on 1 1/2% of gross receivables.  Determine bad debt amount, ending balance in allownace for doubtful accounts, and Accounts Receivable.

Reference no: EM131821421

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