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  3. 8) sba int. makes a $265,750 sale to dba corp. on

8) SBA Int. makes a $265,750 sale to DBA Corp. on July 29 2020 with...

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Accounting

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8) SBA Int. makes a $265,750 sale to DBA Corp. on July 29 2020 with credit terms of 2/10./60. Assume further that DBA Corp. is able to pay only 80% within 60 days. After pursuing the account for 8 months, the credit department of SBA Inc. informs the accounting department that it has given up on collecting the remainder amount and advises that the account be written off. Required: Record the Bad Debt according to the Allowance method? (Select 13pts) O Debiting Bad Debts Expense and Crediting Allowance for Doubtful Accounts by $212,600 O Debiting Bad Debts Expense and crediting Accounts Receivable by $212,600 O Debiting Bad Debts Expense and Crediting Accounts Receivable by 553,150 Debiting Bad Debts Expense and Crediting Allowance for Doubtful Accounts by $53.150 3pts) 9) The Aging Schedule method is a Refinement method of the percentage of Net Credit approach to estimate bad debts. Its goal is to categorize the various individual accounts receivable according to the length of time each has been outstanding. The older an account receivable is the less likely it is to be collected O True O False

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