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)

(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)

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.

Full Excel Worksheet with Formulas

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Parts C, D, and E

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Academics Accounting

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