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1 . Prepare the adjusting entry for this company to recognize bad debts under each of the following independent assumptions. Bad debts are estimated to

1 .

Prepare the adjusting entry for this company to recognize bad debts under each of the following independent assumptions.

Bad debts are estimated to be

1.5 %

of credit sales.

Bad debts are estimated to be

1 %

of total sales.

An aging analysis estimates that

5 %

of year

-

end accounts receivable are uncollectible.

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