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Cook Company's accounting records disclosed the following information for 2018 $ 875,000 Allowance for Doubtful Accounts before adjustment, 6,200 (cr) 2,150,000 27,000 18,000 Prepare the
Cook Company's accounting records disclosed the following information for 2018 $ 875,000 Allowance for Doubtful Accounts before adjustment, 6,200 (cr) 2,150,000 27,000 18,000 Prepare the adjusting entry for doubtful accounts expense under each of the following assumptions: (1) 2.5% percent of outstanding accounts receivable are uncollectible. (2) 1.6 percent of 2018 net sales are uncollectible. (3) An aging schedule of the accounts shows that $24,400 of the accounts are uncollectible
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