Accounting for Bad Debts mpany C on November 1 The following information was abs

Question

Accounting for Bad Debts mpany C on November 1 The following information was abstracted from the trial balance of Co 2017 Accounts Receivable Allowance for Uncollectible Accounts Net accounts receivable $341,000 13.900 S327,100 nstructions: Prepare the necessary urnal entries to record each of the following events a. November 5: The receivable from Company B, with a balance of $7,100, was judged to be uncollectible and written off Date Account Titles and Explanations Debits Credits b. November 8: Company C received $9,000 from Company D for an account receivable the was previously written off Date Account Titles and Explanations Debits Credits Based on an aging of account receivable, the bad debts expense for November was $17,050 Credits Date Account Titles and Explanations Debits

Explanation / Answer

for receipt of written off amount, we have reverse the write off entry. then only cash receipt entry will pass

a 5-Nov Allowance for Uncollectible Accounts $    7,100 Accounts receivable $    7,100 b 8-Nov Accounts receivable $    9,000 Allowance for Uncollectible Accounts $    9,000 8-Nov Cash $    9,000 Accounts receivable $    9,000 c 30-Nov Baddebt expenses $ 17,050 Allowance for Uncollectible Accounts $ 17,050

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