On january 1 2010 the balance in kubera co.s allowance for, Ask an Expert

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On January 1, 2010, the balance in Kubera co.'s Allowance for Bad Debts account was$9720. during the year, a total of $23900 of delinquent account receivable was written off as bad debts, the balance in the allowance for bad debts account at December 31, 2010 was $10480

a) what was the total amount of bad debts expense recognized during the year? Make a T-account for the Allowance for Bad Debts account.

b) As a result of a comprehensive analysis, it is determined that the December 31, 2010 balance of Allowance for Bad Debts should be $23,200. Show in the horizontal model or in journal entry format the adjustment required.

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Accounting Basics, Accounting

Category:- Accounting Basics
Reference No.:- M9290395

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