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accouting help please A check issued to settle an account payable for $145 was recorded on the books as $14.50. On a bank reconcilatum, uns
accouting help please
A check issued to settle an account payable for $145 was recorded on the books as $14.50. On a bank reconcilatum, uns wirures Addition to the book balance Deduction from the book balance Addition to the bank balance Deduction from the bank balance If a bank reconciliation included an NSF check for $450, the entry to record this reconciling item would include a: Credit to cash for $450 Debit to service charges for $450 Credit to account receivable for $450 Debit to NSF check for $450 If the income Statement Method (\% of Sales) is used to account for uncollectible accounts, what is the amount of bad debt expense fecognized for the current year and what is the balance in the allowance for doubtful accounts after the adjusting entry is made? Bad Dabe Expense Allowance for DizubtinlAccounts $6,400$6,700$6,400$6700$6.700$6,400$6,100$7,000 The Clifford Company used the allowance method and estimates its bad debt expense to be 1% of accounts receivable (balance sheet method). Before the adjusting entry, the allowance for doubtful accounts had a $425 credit balance. At the end of the year, Clifford's ending receivables was $370.000. What is the amount of bad debt expense recognized for the current year? $3,700 $4,125 53,275 $3.695.75 Step by Step Solution
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