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a. Complete the below table to calculate the estimated balance of Allowance for Doubtful Accounts using aging of accounts receivable. b. Prepare the adjusting entry
a. Complete the below table to calculate the estimated balance of Allowance for Doubtful Accounts using aging of accounts receivable. b. Prepare the adjusting entry to record Bad Debts Expense using the estimate from part a. Assume the unadjusted balance in the Allowance for Doubtful Accounts is a $3,600 credit c. Prepare the adjusting entry to record bad debts expense using the estimate from part a. Assume the unadjusted balance in the Allowance for Doubtful Accounts is a $100 debit The following information is available on a depreciable asset owned by Mutual Savings Bank: Purchase date Purchase price Salvage value Useful life Depreciation method July 1, Year 1 $85,500 $10,800 9 years straight-line The asset's book value is $68,900 on July 1, Year 3. On that date, management determines that the asset's salvage value should be $5,800 rather than the original estimate of $10,800. Based on this information, the amount of depreciation expense the company should recognize during the last six months of Year 3 would be
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