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Estimating bad debt expense

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Reference no: EM1356599

Gilkey Security Systems has the following for the year ended 12-31-09 before adjustments.

Accounts receivable

$130,000

Net Credit Sales

$840,000

Allowance for doubtful accounts

$3,000 debit balance

Aging of accounts receivable

$19,000

Gilkey uses the aging method of estimating bad debt expense. The journal entry for estimating bad debt expense at year end is:

A) Allowance for doubtful accounts 19,000
Accounts Receivable 19,000

B) Bad Debts Expense 22,000
Allowance for doubtful accounts 22,000

C) Bad Debts Expense 19,000
Allowance for doubtful accounts 19,000

D) Allowance for doubtful accounts 22,000
Bad Debts Expense 22,000

Reference no: EM1356599

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