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2 April, 16:49

Indicate the accounts affected and enter decreases to account categories with a minus sign. a. At the end of the period, bad debt expense is estimated to be $15,000. b. During the period, bad debts are written off in the amount of $9,500.

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  1. 2 April, 16:53
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    a. At the end of the period, bad debt expense is estimated to be $15,000.

    b. During the period, bad debts are written off in the amount of $9,500.

    Assets = Liabilities + Stockholder's Equity

    a.

    Retained Earning - $15,000

    Account Receivable - $15,000

    b.

    Allowance for Doubtful Account - $9,500

    Account Receivable - $9,500

    (Allowance for Doubtful Account is a contra account to account receivable decrease in this account will ultimately increase the assets value.
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