[Solved] Assignment 219955

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Assignment Details

Subject: Business    / Accounting
Question
1. a company doesn’t record estimated bad debt expense, than:
a)NRV is understated
b)revenues are understated
c)expenses are understated
d) receivables are understated2. 6500 of a company’s accounts receivable are estimated to be uncollectible. If there is a 1200 credit balance for allowance for doubtful account the adjustment will be:
a)debit 5300 to bad debt expense
b)debit 5300 to allowance for doubtful account
c) debit 6500 to bad debts expense
d) credit 7700 to allowance for doubtful account

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