Question

helpppp

4G Phon Google Translate C Log in to Clever btful Accounts should be! No results < > Options 圜 回Calculator At the beginning of the year, the balance in Allowance for Doubtful Accounts is a credit of $760. During the year, previously written off accounts of $120 are reinstated and accounts totaling $740 are written off as uncollectible. The end-of-year balance (before adjustment) in Allowance for Doubtful Accounts should be Од. $760 Ob. $140 Oc. $740 Od. $120

Answer 1

Here Answer will be $140

opening balance of Doubtful Allowance Account is $760

Doubtful Allowance account will increase by $120 due to reinstate of previously written off bad debts

Doubtful Allowance Account will decrease by $740 due to write off Bad debts

DOUBTFUL T ACCOUNT BEFORE YEAR END ADJUSTMENT WILL APPEAR AS FOLLOWING

DOUBTFUL ALLOWANCE ACCOUNT
	DEBIT		CREDIT
ACCOUNT RECEIVABLE	$        740	OPENING BALANCE	$        760
(FOR WRITE OFFS)		ACCOUNT RECEIVABLE	$        120
CLOSING BALANCE	$        140	(FOR REINSTATED DEBTS)
	$        840		$        840

FEEL FREE TO ASK ANY CLARIFICATION IF ANY REQUIRED KINDLY PROVIDE FEED BACK BY THUMBS UP IF SATISFIED IT WILL BE HIGHLY APPRECIATED

THANK YOU