How to record summary journal entries related to allowance

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Reference no: EM132653057

Interpreting Bad Debt Disclosures

Siemens is one of the world's largest electrical engineering and electronics companies. Headquartered in Germany, the company has been in business for over 160 years and operates in 190 countries.

In a recent annual report, it disclosed the following information concerning its allowance for doubtful accounts (euros in millions denoted as €):

                                                    Balance at Beginning of Period Charged to Costs

Expenses Amounts                                    €1,013           €315

Written Off Balance at End of Period         €(120)             €1,208

Required:

Question 1. Record summary journal entries related to the allowance for doubtful accounts for the current year. (If no entry is required for a transaction/event, select "No journal entry required" in the first account field. Enter your answers in millions.)

Reference no: EM132653057

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