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Can someone help me complete this accounting problem? At December 31, Folgeys Coffee Company reports the following results for its calendar year. Cash sales Credit
Can someone help me complete this accounting problem?
At December 31, Folgeys Coffee Company reports the following results for its calendar year. Cash sales Credit sales $900,000 300,000 Its year-end unadjusted trial balance includes the following items. $125,000 debit Accounts receivable Allowance for doubtful accounts5,000 debit a. Prepare the adjusting entry to record Bad Debts Expense assuming uncollectibles are estimated to be 3% of credit sales. View transaction list Journal entry worksheet Record Bad Debts Expense assuming uncollectibles are estimated to be 3% of credit sales. Note: Enter debits before credits. Date General Journal DebitCredit Dec. 31 Record entry Clear entry View general journalStep by Step Solution
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