for Wilton, Inc. (a) Instead of an Allowance for Doubtful Accounts Balance of $2,400 credit, the balance
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for Wilton, Inc.
(a) Instead of an Allowance for Doubtful Accounts Balance of $2,400 credit, the balance was $1,900 debit. Assume that 10%
of accounts receivable will prove to be uncollectible. Prepare the entry to record bad debt expense.
(b) Instead of estimating uncollectibles based on a percentage of receivables, assume Wilton prepares an aging schedule that estimates total uncollectible accounts at $24,600. (Assume an allowance of $2,400 credit.) Prepare the entry to record bad debt expense.
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