12/31/2019: At the end of the first year of operations, Yolandi Company had $900,000 in sales and accounts receivable of $350,000. XYZ's management has estimated that $9,000 in accounts receivable would be uncollectible.

The journal entry to record bad debt expense should be:

December 31, 2019, bad debt expense

Dr Bad debt expense 9,000

    Cr Allowance for doubtful accounts 9,000

Net account receivables = $350,000 - $9,000 = $341,000

The allowance for doubtful accounts is a contra asset account that decreases the balance of accounts receivable (balance sheet). Bad debt expense is included in the income expenses and decreases total sales.

answer: need picture of problem

step-by-step explanation:

arrange the equations with like terms in columns.

analyze the coefficients of x or y.

add the equations and solve for the remaining variable.

substitute the value into either equation and solve.

check the solution.

step-by-step explanation: