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Analysis of Recelyables Method At the end of the current year, Accounts Receivable has a balance of $4,375,000; Allowance for Doubtful Accounts has a debit
Analysis of Recelyables Method At the end of the current year, Accounts Receivable has a balance of $4,375,000; Allowance for Doubtful Accounts has a debit balance of $21,300; and sales for the year total $102,480,000. Using the aging method, the balance of Allowance for Doubtful Accounts is estimated as $205,000. a. Determine the amount of the adjusting entry for uncollectible accounts. b. Determine the adjusted balances of Accounts Receivable, Allowance for Doubtful Accounts, and and Debt Expense, Accounts Receivable 4,375,000 205,000 Allowance for Doubtful Accounts Bad Debt Expense 21,300 X Detimine the notre table of accounts receivable 4,170,000
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