Allowance for doubtful accounts has a debit balance of $2,300 at the end of the year (before adjustment). the company prepares an analysis of customers' accounts and estimates the amount of uncollectible accounts to be $31,900. which of the following adjusting entries is needed to record the bad debt expense for the year? a. debit allowance for doubtful accounts, $34,200; credit bad debit expense, $34,200b. debit allowance for doubtful accounts, $29,600; credit bad debit expense, $29,600c. debit bad debt expense, $29.600; credit allowance for doubtful accounts, $29,600d. debit bad debt expense, $29.600; credit allowance for doubtful accounts, $34,200
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The following accounts are denominated in pesos as of december 31, 2015. for reporting purposes, these amounts need to be stated in u.s. dollars. for each balance, indicate the exchange rate that would be used if a translation is made under the current rate method. then, again for each account, provide the exchange rate that would be necessary if a remeasurement is being made using the temporal method. the company was started in 2000. the buildings were acquired in 2002 and the patents in 2003. (round your answers to 2 decimal places.) exchange rates for 1 peso are as follows: 2000 1 peso = $ 0.28 2002 1 = 0.26 2003 1 = 0.25 january 1, 2015 1 = 0.24 april 1, 2015 1 = 0.23 july 1, 2015 1 = 0.22 october 1, 2015 1 = 0.20 december 31, 2015 1 = 0.16 average for 2015 1 = 0.19
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Allowance for doubtful accounts has a debit balance of $2,300 at the end of the year (before adjustm...
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