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    kfaust Posts: 1, Reputation: 1
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    #1

    Jan 4, 2014, 04:38 PM
    I have no clue how to build this excel sheet
    P8-2A Information related to Hamilton Company for 2014 is summarized below.
    Total credit sales $2,500,000
    Accounts receivable at December 31 970,000
    Bad debts written off 66,000
    Instructions
    (a) What amount of bad debt expense will Hamilton Company report if it uses the direct
    Write-off method of accounting for bad debts?
    (b) Assume that Hamilton Company estimates its bad debt expense to be 3% of credit
    Sales. What amount of bad debt expense will Hamilton record if it has an Allowance
    For Doubtful Accounts credit balance of $4,000?
    (c) Assume that Hamilton Company estimates its bad debt expense based on 7% of
    Accounts receivable. What amount of bad debt expense will Hamilton record if it has
    An Allowance for Doubtful Accounts credit balance of $3,000?
    (d) Assume the same facts as in (c), except that there is a $3,000 debit balance in Al-
    Lowance for Doubtful Accounts. What amount of bad debt expense will Hamilton
    Record?
    (e) What is the weakness of the direct write-off method of reporting bad debt
    Expense?

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