Adjusting Entries: Allowance for doubtful accounts
Adjusting Entries: Allowance for doubtful accounts on 1/1/06 was $60,000. The balance in the allowance account on 12/31/06 after making the annual adjusting entry was $70,000 and during 2006 bad debts written off amounted to $40,000. You are to provide the missing adjusting entry. For each journal entry write Dr for debit and Cr for credit.© SolutionLibrary Inc. solutionlibary.com 9836dcf9d7 https://solutionlibrary.com/business/accounting/adjusting-entries-allowance-for-doubtful-accounts-7efc
...s debited to allowance account. The balance in the allowance account after the write off would be ...