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(4) Accounts Receivable (12/31/19) $68,000 debit Allowance for U/A (12/31/19) 800 debit 2019 Sales Revenue = $260,000 (75% credit) a. Assume uncollectible accounts are estimated
(4) Accounts Receivable (12/31/19) $68,000 debit Allowance for U/A (12/31/19) 800 debit 2019 Sales Revenue = $260,000 (75% credit) a. Assume uncollectible accounts are estimated to be 3% of credit sales. What is the 12/31/19 AJE to record estimated bad debts? b. Based on an aging-ofA/R, assume 6% of receivables are estimated uncollectible. What is the 12/31/19 AJE to record estimated bad debts
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Financial Accounting An Integrated Statements Approach
Authors: Jonathan E. Duchac, James M. Reeve, Carl S. Warren
2nd Edition
324312113, 978-0324312119
