Business, 15.04.2020 03:23 Alayna1037

At December 31, 2019, the trial balance of Skysong Company contained the following amounts before adjustment Debit Credit Accounts Receivable Allowance for Doubtful Accounts Sales Revenue $394,000 1,200 901,000 Based on the information given, which method of accounting for bad debts is Skysong Company using-the direct write-off method or the allowance method? (b) Prepare the adjusting entry at December 31, 2019, for bad debt expense, assuming an aging schedule indicates that $10,900 of accounts receivable will be uncollectible. (c) Repeat part (b) assuming that instead of a credit balance there is an $1,200 debit balance in Allowance for Doubtful Accounts. (d) During the next month, January 2020, a $2,800 account receivable is written off as uncollectible. Prepare the journal entry to record the write-off. (e Repeat part (d) assuming that Skysong uses the direct write-off method instead of the allowance method in accounting for uncollectible accounts receivable.

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