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E8-2 (Algo) Determining Financial Statement Effects of Bad Debt Expense Estimates and Write-Offs [LO 8-2]...

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E8-2 (Algo) Determining Financial Statement Effects of Bad Debt Expense Estimates and Write-Offs [LO 8-2] Blackhorse Productions, Incorporated, used the aging of accounts receivable method to estimate that its Allowance for Doubtful Accounts should be $21,550. The account had an unadjusted credit balance of $10,900 at that time. a. The appropriate bad debt adjustment was recorded. b. Later, an account receivable for $1,900 was determined to be uncollectible and was written off. Required: For each transaction listed above, indicate the amount and direction (+ for increase or for decrease) of effects on the financial statement accounts and on the overall accounting equation. (Enter any decreases to Assets, Liabilities, or Stockholders Equity with a minus sign.) Assets = Liabilities Stockholders' Equity a. = b. = b. =

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