Thank you! Rogala Foods Inc. was formed In 2015 with the merger of Grouch...
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Rogala Foods Inc. was formed In 2015 with the merger of Grouch Mayer and Tashamo Corporation. The company reported the following rounded amounts for the year ended January 3, 2016 (all amounts in millions) Debits Credits Accounts Receivable Allowance for Doubtful Accounts Sales (assume all on credit) $1,210 $ 34 19,200 Required 1. Assume Rogala uses 1/2 of 1 percent of sales to estimate its Bad Debt Expense for the year. Prepare the 2 Assume instead Rogala uses the aging of accounts recelvable method and estimates that $89 of its Accounts adjusting journal entry required for the year, assuming no Bad Debt Expense has been recorded yet Recelvable will be uncollectible. Prepare the adjusting journal entry required at January 3, 2016, for recording Bad Debt Expense 2016, was a debit balance of $29. balance? 3. Prepare the journal entry for unadjusted balance in Rogala's Allowance for Doubtful Accounts at January 3, 4. If one of Rogala's customers declared bankruptcy, what journal entry would be used to write off its $20
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