Determine the desired postadjustment balance in allowance

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Reference no: EM131292601

Aging Method Bad Debt Expense Cindy Bagnal, the manager of Cayce Printing Service, has provided the following aging schedule for Cayce's accounts receivable: Cindy indicates that the $121,100 of accounts receivable identified in the table does not include $4,600 of receivables that should be written off. Required: Hide

1. Journalize the $4,600 write-off. Account and Explanation Debit Credit Record write-off of defaulted account

2. Determine the desired postadjustment balance in allowance for doubtful accounts. Round each aging category to the nearest dollar. $ Hide

3. If the balance in allowance for doubtful accounts before the $4,600 write-off was a debit of $700, compute bad debt expense. Prepare the adjusting entry to record bad debt expense. Account and Explanation Debit Credit Record adjusting entry for bad debt expense estimate.

Reference no: EM131292601

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