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Crane Company estimates that 2.5% of accounts receivable will become uncollectible. Crane Company reported the following information in its general ledger for the year ended
Crane Company estimates that 2.5% of accounts receivable will become uncollectible. Crane Company reported the following information in its general ledger for the year ended September 30, 2021: Sales Debit Credit 884,600 Accounts Receivable Debit Credit 335,000 Allowance for Doubtful Accounts Debit Credit 8,125 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 e Textbook and Media Calculate the carrying amount of accounts receivable on September 30, 2021. Carrying amount $
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