2 Cary Company reports the following financial information before adjustments: Debits $25,000 Credits Accounts Receivable...
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Accounting
2 Cary Company reports the following financial information before adjustments: Debits $25,000 Credits Accounts Receivable Allowance for Doubtful Accounts Sales (all on credit) Sales Returns and Allowances $500 225,000 12,500 Required: Prepare the journal entry to record Bad Debt Expense assuming Cary Company estimates bad debts at 6% of accounts receivable
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