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Avon Inc. reported an allowance for doubtful accounts of $30,000 (credit) at December 31, 2017, before performing an aging of accounts receivable. As a result of the aging, Avon Ic. determined that an estimated $52,000 of the December 31, 2017, accounts receivable would prove uncollectible. The adjusting entry required at December 31, 2017, would be
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Question & Answer: Avon Inc. reported an allowance for doubtful accounts of $30,000 (credit) at December…..
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| Accounts Tilte | Dr | Cr | |
| Bad Debt expenses | $22,000 | ||
| Allowance for doubtful debts | $22,000 | ||
| (52000-30000) | |||
| As already there is credit balance in allowance for | |||
| doubtful accounts of $30000 and at the year end the | |||
| balance of allownace account has to be $52000 so | |||
| bad debt expenses will be debited by there difference | |||
| If any doubt please comment. If satisfied you can rate the answer | |||
