Pronghorn Company reports the following financial information before adjustments. Dr. Cr. Accounts Receivable $130,100 Allowance for...
Pronghorn Company reports the following financial information
before adjustments.
|
Dr. |
Cr. |
|||||
| Accounts Receivable | $130,100 | |||||
| Allowance for Doubtful Accounts | $3,310 | |||||
| Sales Revenue (all on credit) | 808,500 | |||||
| Sales Returns and Allowances | 52,830 | |||||
Prepare the journal entry to record bad debt expense assuming
Pronghorn Company estimates bad debts at (a) 4% of accounts
receivable and (b) 4% of accounts receivable but Allowance for
Doubtful Accounts had a $1,490 debit balance.
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Pronghorn Company reports the following financial information
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