Exercise 9-10 Estimating bad debts LO P3 At December 31, Folgeys Coffee Company reports the...
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Accounting
Exercise 9-10 Estimating bad debts LO P3 At December 31, Folgeys Coffee Company reports the following results for its calendar year Cash sales 911,000 311,000 Its year-end unadjusted trial balance includes the following items $136,000 debit 6,100 debit Accounts receivable redit sales Prepare the adjusting entry to record bad debts expense assuming uncollectibles are estimated to be a 6% of c 4% of total sales and (c) 9% of year-end accounts receivable.
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