At December 31, Folgeys Coffee Company reports the following results for its calendar year. Its year-end unadjusted

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At December 31, Folgeys Coffee Company reports the following results for its calendar year.

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Its year-end unadjusted trial balance includes the following items.

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a. Prepare the adjusting entry to record Bad Debts Expense assuming uncollectibles are estimated to be 1.5% of credit sales.

b. Prepare the adjusting entry to record Bad Debts Expense assuming uncollectibles are estimated to be 0.5% of total sales.

c. Prepare the adjusting entry to record Bad Debts Expense assuming uncollectibles are estimated to be 6% of year-end accounts receivable.

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Fundamental Accounting Principles Volume 2

ISBN: 9780077716660

21st Edition

Authors: John Wild, Ken Shaw, Barbara Chiappetta

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