Question

Dr.

Cr.

Prepare the journal entry to record bad debt expense assuming Riverbed Company estimates bad debts at (a) 5% of accounts receivable and (b) 5% of accounts receivable but Allowance for Doubtful Accounts had a $1,390 debit balance. (If no entry is required, select “No Entry” for the account titles and enter 0 for the amounts. Credit account titles are automatically indented when the amount is entered. Do not indent manually.)

a) bad debt expense __________ Blank

Allowance for Doubtful Accounts Blank ______________

b) bad debt expense __________ Blank

Allowance for Doubtful Accounts Blank ______________

Riverbed Company reports the following financial information before adjustments.

 

 

Dr.

 

Cr.

Accounts Receivable

 

$148,800

 

 

 

 

Allowance for Doubtful Accounts

 

 

 

 

$2,190

 

Sales Revenue (all on credit)

 

 

 

 

810,900

 

Sales Returns and Allowances

 

52,940

 

 

 

 

             

 

Blank ______________

 

 

Place New Order
It's Free, Fast & Safe

"Looking for a Similar Assignment? Order now and Get a Discount!