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    Missing adjusting entry

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    Allowance for doubtful accounts on 1/1/10 was $60,000. The balance in the allowance account on 12/31/10 after making the annual adjusting entry was $55,000, and during 2010 bad debts written off amounted to $40,000. You are to provide the missing adjusting entry. Please indicate DR (debit) or CR (credit) to the left of the account title, and place a comma between the account title and the amount of the adjustment.

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    https://brainmass.com/business/journal-entries/missing-adjusting-entry-332509

    Solution Preview

    The missing adjusting entry would be bad debt expense.

    The beginning balance is 60,000 ...

    Solution Summary

    The solution explains the missing adjusting entry for bad debt expense

    $2.19

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