Tanning Company analyzes its receivables to estimate bad debt expense. The accounts receivable balance is $362,000 and credit sales are $1,000,000. An aging of accounts receivable shows that approximately 4% of the outstanding receivables will be uncollectible. What adjusting entry will Tanning Company make if Allowance for Doubtful Accounts has a credit balance of $2,400 before adjustment

Bad debt expenses                          $ 12,080

Allowance for doubtful accounts                           $ 12,080

Explanation:

Accounts  4% of AR

That is  $362,000 x 4% = $14,480 expected allowance.

The current balance = 2400 credit

Journal entry:

                               Debit                   Credit

Bad debt expenses [(362,000 x 4%) - 2400]        $12,080

                                                        $12,080

(To record bad debt expense)

x=3

step-by-step explanation:

this is really simple i saw that there was only one term (5x) and thought if that was 15 what would i have to multiply everything else to get it there? well if 5x became 15 then x would have to be 3 so plug the 3 in the x for the other equations and you get 15 for the other ones. so there you go. : )

answerindustrial revolution;