Learn Solve P8-5A for Malone Company with Excel

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Problem Overview P8-5A

We will being going through the following problem step-by-step. Be sure to check out the full P8-5A Malone Company Tutorial also. 

At December 31, 2017, the trial balance of Malone Company contained the following amounts before adjustment.

Accounts Receivable $180,000  

Allowance for Doubtful Accounts   $1,500

Sales Revenue  $ 875,000

Problem 8-5A Video Walkthrough

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Adjusting Entry (a)

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(a) Prepare the adjusting entry at December 31, 2017, to record bad debt expense, assuming that the aging schedule indicates that $10,200 of accounts receivable will be uncollectible.

Adjusting Entry with Debit (b)

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Now we are asked to repeat the last step. This time the debit amount will be added to the uncollectible amount. (b) Repeat part (a), assuming that instead of a credit balance there is a $1,500 debit balance in Allowance for Doubtful Accounts.

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Parts C, D, and E

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Academics Accounting

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