At the end of 2012, the unadjusted trial balance of Territo, Inc. indicated $5,840,000 in Accounts Receivable, a credit balance of $9,200 in Allowance for Doubtful Accounts, and Sales Revenue (all on credit) of $160,450,000. Based on knowledge that the current economy is in distress, Territo...

Does it reflect negatively on my credit report if I consolidate credit card debt using a debt consolidation agency? I can make my credit card payments, but only the minimums. The APR's are mid to high teens -- I feel like a hamster on a wheel. Is it worse to continue like I am, with credit cards...

Accounts Recievable Balance $34,825; Allowance for Bad Debt Balance $409 0-30 days = 20,000 = 5% 30-60 days = 10,000 = 20% Over 60 days = Balance = 40% I assumed that "Balance" meant the remaining amount of Acc./Rec. after 60 days. The adjusting entry I came up with was.. Bad Debt Expense ...

I have been sued by Buckles and Buckles in Michigan for alleged debt and am representing myself in court. They submitted as evidence with the court papers a copy of the front and back of a check with a signature that they claim to be in my name for an apparent personal loan. They also submitted...

Can someone help with the following accounting exercise? The following info was listed in company X balance sheet as of 2005 Aacounts Rec for 2004 150,000 Aacounts Rec for 2005 250,000 Allowance for bad debt in 2004 was 8,200 Allowance for bad debt in 2005 was 12,000