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b? Carla Vista Company estimates that 25% of accounts receivable will become uncollectible. Carla Vista Company reported the following information in its general ledger for
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Carla Vista Company estimates that 25% of accounts receivable will become uncollectible. Carla Vista Company reported the following information in its general ledger for the year ended September 30, 2021: Sales Debit Credit 795,600 Accounts Receivable Debit Credit 295.000 Allowance for Doubtful Accounts Debit Credit 6.900 (a) Your Answer Correct Answer (Used) Prepare the adjusting entry to record bad debt expense at year end using the percentage of receivables approach. (Credit account titles are automatically indented when the amount is entered. Do not indent manually.) Date Account Titles and Explanation Debit Credit Sept. 30 Bad Debt Expense 47 Allowance for Doubtful Accounts 473 (b) Calculate the carrying amount of accounts receivable on September 30, 2021 Carrying amount $ Step by Step Solution
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