Exercise 8-5 The ledger of Pharoah Company at the end of the current year shows...
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Accounting
Exercise 8-5 The ledger of Pharoah Company at the end of the current year shows Accounts Receivable $107,000; Sales Revenue $847,000; and Sales Returns and Allowances $20,000. (a) If Pharoah Company uses the direct writ-ff mthod to account for uncollectible accounts, journalize the adjusting entry at December 31, assuming Pharoah Company determines that L. Dole's $1,100 balance is uncollectible (b) If Allowance for Doubtful Accounts has a credit balance of $2,400 in the trial balance, journalize the adjusting entry at December 31, assuming bad debts are expected to be 10% of accounts receivable. c) If Allowance for Doubtful Accounts has a debit balance of $2021n the trial balance ournalize the adjusting entry at December 31 assuming bad debts are expected to be 10% of accounts receivable (Credit account titles are automatically indented when amount is entered. Do not indent manually.) No. Account Titles and Explanation Debit Credit Click if you would like to Show Work for this question: pen Show Work
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