Solution-Prepare the adjusting entry to record bad debts

Prepare the adjusting entry to record bad debts

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Reference no: EM13536715

At December 31, GreenTea Company reports the following results for its calendar-year.

Cash sales	$1,200,000
Credit sales	900,000

Its year-end unadjusted trial balance includes the following items.

Accounts receivable	. . . . . $195,000 debit
Allowance for doubtful accounts	. . . . . 3,000 debit

a. Prepare the adjusting entry to record Bad Debts Expense assuming uncollectibles are estimated to be 1.5% of credit sales.

b. Prepare the adjusting entry to record Bad Debts Expense assuming uncollectibles are estimated to be 0.5% of total sales.

c. Prepare the adjusting entry to record Bad Debts Expense assuming uncollectibles are estimated to be 6% of year-end accounts receivable.

Reference no: EM13536715

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Prepare the adjusting entry to record bad debts

Reference no: EM13536715

Reference no: EM13536715

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