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Skysong Company has been in business several years. At the end of the current year,...

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Accounting

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Skysong Company has been in business several years. At the end of the current year, the unadjusted balances show: Accounts Receivable $285,200 Sales Revenue 2,024,000 Allowance for Doubtful Accounts 5,244 Bad debts are estimated to be 7% of receivables. Record adjustment to Allowance for Doubtful Accounts in a tabular summary. (Enter negative amounts using either a negative sign preceding the number e.g. -45 or parentheses e.g. (45).) Assets = Liabilities + Allowance For Accounts Receivable Doubtful Accounts Common Stock + Beg. Bal. $ $ $ Adj. i i Skysong Company has been in business several years. At the end of the current year, the unadjusted balances show: Accounts Receivable $285,200 Sales Revenue 2,024,000 Allowance for Doubtful Accounts 5,244 Bad debts are estimated to be 7% of receivables. Record adjustment to Allowance for Doubtful Accounts in a tabular summary. (Enter negative amounts using either a negative sign preceding the number e.g. -45 or parentheses e.g. (45).) Stockholders' Equity Retained Earnings Common Stock + Revenue Expense $ Bad debt expense

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