Analysis of Receivables Method:
At the end of the current year, Accounts Receivable has a balance of $3,750,000, Allowance for Doubtful Accounts has a credit balance of $22,750, and sales for the year total $48,400,000. Using the aging method, the balance of Allowance for Doubtful Accounts is estimated as $390,000.
Required:
a. Determine the amount of the adjusting entry for uncollectible accounts.

$367,250

Explanation:

Data provided

Allowance for Doubtful Accounts = $390,000

Credit balance = $22,750

The computation of the amount of the adjusting entry is shown below:-

Amount of adjusting entry = Allowance for Doubtful Accounts - Credit balance

= $390,000 - $22,750

=$367,250

Therefore for computing the amount of adjusting entry we simply subtract credit balance from allowance for doubtful accounts.

explanation: doctrine of respondeat superior is a legal doctrine that is commonly used in tort. this principle makes an employer or principal legally responsible for the wrongful acts done by an employee or agent, if such acts occur within the scope of the employment or agency.

1) the stages a new product goes through from beginning to end, i.e., the stages that a product passes through from introduction through growth, maturity, and decline. 2) the time from initial research and development to the time at which sales and support of the product to customers are withdrawn. 3) the period of time during which a product can be produced and marketed profitably.

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