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Crane Company has a $119000 balance in Accounts Receivable and a $344 debit balance in Allowance for Doubtful Accounts at year end just prior
Crane Company has a $119000 balance in Accounts Receivable and a $344 debit balance in Allowance for Doubtful Accounts at year end just prior to recording adjusting entries. Credit sales for the period totaled $787200. How much is the amount of the bad debt adjusting entry if Crane estimates that 1.5% of its receivables will be uncollectible? $1441 $1785 $11808 $2129
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Survey of Accounting
Authors: Carl S. Warren
7th edition
1285974360, 1285183487, 9781285974361, 978-1285183480
