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Coronado Industries's allowance for uncollectible accounts was $186500 at the end of 2020 and $180000 at the end of 2019. For the year ended December 31, 2020, Coronado reported bad debt expense of $29200 in its income statement. What amount did Coronado debit to the appropriate account in 2020 to write off actual bad debts

Respuesta :

abiolataiwo2015

Answer:

$22,700

Explanation:

Calculation for the amount did Coronado debit to the appropriate account in 2020 to write off actual bad debts

Allowance for Uncollectible at the end of 2019= $180,000

Allowance for Uncollectible at the end 2020= $186,500

Bad debt exp Expense = $29,200

Write off of actual bad debt = $180,000 + $29,200 - $186,500

Write off of actual bad debt= $22,700

Therefore the amount that Coronado debit to the appropriate account in 2020 to write off actual bad debts will be $22,700