Journal entry for Allowance for bad debts
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Battle Tank, Inc. had net sales in 2004 of $1,200,000. At December 31, 2004, before
adjusting entries, the balances in selected accounts were: Accounts Receivable $250,000
debit, and Allowance for Doubtful Accounts $2,100 credit. If Battle Tank estimates that
2% of its net sales will prove to be uncollectible, prepare the December 31, 2004, journal
entry to record bad debt expense.
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Solution Summary
The solution explains the journal entry to record bad debt expense.
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The amount of uncollectible expense is 2% of net sales = 1,200,000 X 2% = ...
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