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At the end of the current year, the accounts receivable account has a debit balance of $651,000 and sales for the year total $7,380,000. a.

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At the end of the current year, the accounts receivable account has a debit balance of $651,000 and sales for the year total $7,380,000. a. The allowance account before adjustment has a debit balance of 58,800. Bad debt expense is estimated at 1/2 of 1% of sales. b. The allowance account before adjustment has a debit balance of $8,800. An aging of the accounts in the customer ledger indicates estimated doubtful accounts of $28,200. c. The allowance account before adjustment has a credit balance of $5,100. Bad debt expense is estimated at 3/4 of 1% of sales. d. The allowance account before adjustment has a credit balance of $5,100. An aging of the accounts in the customer ledger indicates estimated doubtful accounts of $42,300. Determine the amount of the adjusting entry to provide for doubtful accounts under each of the assumptions (a through d) listed above. a. III Vale Designs issued a 120-day, 46 note for $75,000 dated April 15 to Bork Furniture Company on account Required: A Determine the due date of the note B. Determine the maturty value of the note. Assume a 360-day year. Round your answer to the nearest dolor C. Journalize the entries to record the following: (1) receipt of the note by Bork Furniture and (2) recept of payment of the note armatury Refer to the Chart of Accounts for exact wording of account sites. Round your answer to the newest do First Questions A Determine the due date of the note B. Determine the maturiy vat of the note. Assume a 360-day year. Round your answer to the nearest dollar Journal C. (1) Journakze the entry to record the recept of the note by Bork Furniture. Refer to the Chart of Accounts for exact wording of accountries. Round your answer to the nearest PAGE 1 JOURNAL ACCOUNTING EQUATION DATE DESCRIPTION POST. REF DEBIT 1 CREDIT ASSETS LARES EQUITY 2 C. (2) Journalize the entry to record the recept of payment of the note armatury. Refer to the Chart of Accounts for exact wording of accounties. Round your answer to the nearest dok JOURNAL ACCOUNTING EQUATION DATE DESCRIPTION POST. REF DEBIT CREDIT ASSETS LRUTIES EQUITY 2

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