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10 November, 22:31

Kirchhoff Industries has computed that the proper balance for the Allowance for Doubtful Accounts at August 31 is $67,937. Assume that the allowance for doubtful accounts for Kirchhoff Industries has a credit balance of $14,265 before adjustment on August 31. Journalize the adjusting entry for uncollectible accounts as of August 31.

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  1. 10 November, 22:48
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    The journal entry to record the bad debt expense is shown below:

    Bad debt expense A/c Dr $4,698

    To Allowance for doubtful debts $4,698

    (Being bad debt expense is recorded)

    The computation of the bad debt expense is shown below:

    = Allowance for Doubtful Accounts - credit balance of Allowance for Doubtful Accounts)

    = $67,937 - $14,265

    = $53,672
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