Could somebody help me. I have to book a reserve due to an average credit default rate. The T-Accounts, which are available in that exercise, are: receivables, addition to reserve, ret. earnings/acc. deficit, reserve balance.
But I only know the entry with the account "bad debts expense" and "receivables".
Thank you for your support!
But I only know the entry with the account "bad debts expense" and "receivables".
Thank you for your support!