E7-9 - E7-9 Accounts Receivable Allowance for Doubtful...

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Unformatted text preview: E7-9 Accounts Receivable Allowance for Doubtful Accounts Sales, Net (all on credit) Percent of Accounts Receivable Percent of NET sales a.) Bad debt expense Allowance for doubtful accounts Debit $ 80,000 1,7 50 Credit $ 580,000 4% 1% Debit $ 4,950 $ 4,950 Credit ($80,000 X 4%) = $3,200 + $1,750 = $4,950 Debit $ 5,800 Credit $ 5,800 b.) Bad debt expense Allowance for doubtful accounts $580,000 X 1% = $5,800 1 ...
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This note was uploaded on 10/27/2010 for the course FIN 82571 taught by Professor Sharp during the Fall '10 term at CSU Sacramento.

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