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Credit sales were made in the amount of $400,000. Cash sales were made in the amount of $200,000. Collections on accounts amounted to $300,000. Bad
- Credit sales were made in the amount of $400,000. Cash sales were made in the amount of $200,000. Collections on accounts amounted to $300,000. Bad Debt rate is 5%. Company uses percent of sale method. Book entry to recognize bad debts.
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Management And Cost Accounting
Authors: Colin Drury
6th Edition
1844807037, 978-1844807031
