When does an account become uncollectible? Question 14 Allowance for Doubtful Accounts has a debit balance of $1,100 at the end of the year (before adjustment), and an analysis of customers’ accounts indicates uncollectible receivables of $12,900. Which of the following entries records the proper adjustment for bad debt expense? a. debit Bad Debt Expense, $11,800; credit Allowance for Doubtful Accounts, $11,800 b. debit Allowance for Doubtful Accounts, $14,000; credit Bad Debt Expense, $14,000 c. debit Allowance for Doubtful Accounts, $11,800; credit Bad Debt Expense, $11,800 d. debit Bad Debt Expense, $14,000; credit Allowance for Doubtful Accounts, $14,000 a. when accounts receivable is converted into notes receivable b. when a discount is availed on notes receivable c. at the end of the fiscal year d. there is no general rule for when an account becomes uncollectible Question 11 Jamison Company gathered the following reconciling information in preparing its June bank reconciliation: Cash balance per bank, 6/30 $13,000 Note receivable collected by bank 4,000 Outstanding checks 7,000 Deposits-in-transit 2,500 Bank service charge 35 NSF check 1,900 Using the above information, determine the cash balance per books (before adjustments) for the Jamison Company. a. $15,065 b. $10,565 c. $6,435 d. $8,065
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