Prepare the adjusting entry at december 31 2010 to record

Reference no: EM13598184

Prepare the adjusting entry at December 31, 2010, to record bad debts expense assuming that the aging schedule indicates that $14,334 of accounts receivable will be uncollectible.

Repeat the above assuming that instead of a credit balance there is a $2,115 debit balance in the Allowance for Doubtful Accounts.

During the next month, January 2011, a $3,817 account receivable is written off as uncollectible. Prepare the journal entry to record the write-off.

Repeat the above part assuming that Olpe uses the direct write-off method instead of the allowance method in accounting for uncollectible accounts receivable.

Reference no: EM13598184

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