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11 At December 31, Folgeys Coffee Company reports the following results for its calendar...

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Accounting

11
At December 31, Folgeys Coffee Company reports the following results for its calendar year.
5
points
\table[[eBook],[Hint],[Print]]
References
$914,000
314,000
Its year-end unadjusted trial balance includes the following items.
Accounts receivable
Allowance for doubtful accounts
$139,000 debit
6,400 debit
Prepare the adjusting entry to record bad debts expense assuming uncollectibles are estimated to be (1)5% of credit sales, (2)3% of total sales and (3)8% of year-end accounts receivable.
Journal entry worksheet
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