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eBook Show Me How Calculator Print Item Providing for Doubtful Accounts At the end of...

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Accounting

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eBook Show Me How Calculator Print Item Providing for Doubtful Accounts At the end of the current year, the accounts receivable account has a debit balance of $969,000 and sales for the year total $10,990,000 a. The allowance account before adjustment has a credit balance of $13,100. Bad debt expense is estimated at 1/2 of 1% of sales. b. The allowance account before adjustment has a credit balance of $13,100. An aging of the accounts in the customer ledger indicates estimated doubtful accounts of $41,900. c. The allowance account before adjustment has a debit balance of $6,800. Bad debt expense is estimated at 3/4 of 1% of sales. d. The allowance account before adjustment has a debit balance of $6,800. An aging of the accounts in the customer ledger indicates estimated doubtful accounts of $56,400. Determine the amount of the adjusting entry to provide for doubtful accounts under each of the assumptions (a through d) listed above. a. b. $ $ Previous Next

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