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A company reported the following information related to bad debt estimates and write- offs for a recent year. Allowance for doubtful accounts: Balance at
A company reported the following information related to bad debt estimates and write- offs for a recent year. Allowance for doubtful accounts: Balance at beginning of year Bad debt expense Write-offs Balance at end of year $ 8,002 3,498 (4,610) $ 6,890 Required: 1. Prepare journal entries for the bad debt expense adjustment and total write-offs of bad debts for the current year. 2. Assume that gross sales revenue for the month was $141,756, bad debt expense was $236, sales discounts were $1,404, sales returns were $1,036, and credit card fees were $2,209. What amount would the company report for net sales for the month? Complete this question by entering your answers in the tabs below. Required 1 Required 2 Prepare journal entries for the bad debt expense adjustment and total write-offs of bad debts for the current year. (If no entry is required for a transaction/event, select "No journal entry required" in the first account field.) View transaction list Journal entry worksheet 1 2 Record entry for estimated bad debts. Note: Enter debits before credits. Transaction A General Journal Debit Credit >
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