Concept explainers
The following accounts receivable information pertains to Luxury Cruises.
A. Determine the estimated uncollectible
B. Record the year-end 2018
C. Assume there was a previous debit balance in Allowance for Doubtful Accounts of $187,450; record the year-end entry for bad debt, taking this into consideration.
D. Assume there was a previous credit balance in Allowance for Doubtful Accounts of $206,770; record the year-end entry for bad debt, taking this into consideration.
E. On January 24, 2019, Luxury Cruises identifies Landon Walker’s account as uncollectible in the amount of $4,650. Record the entry for identification.
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