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During 2023 , Dyson had credit sales of $3,100,000 and collected $3,000,000 on prior credit sales. Dyson's policy is to write off receivables that are
During 2023 , Dyson had credit sales of $3,100,000 and collected $3,000,000 on prior credit sales. Dyson's policy is to write off receivables that are more than 120 days past due. During 2023, Dyson wrote off $25,000 of its receivables and recovered a $5,000 receivable that it had previously written off. At December 31 , 2023, an aging of Dyson's accounts receivable looks as follows: Allowance for Doubtful Accounts 1. Provide the journal entries Dyson made to record the following transactions: a. 202z credit sales of $3.100.000 b. Collection of $3,000,000 on prior credit sales C. W/rito nff of ele nno roroiughloc d. Parmorioc of ke nnn e. Adjusting entry to record 2023 bad debt expense (assume Dyson uses the A/R Aging method to estimate future bad debts) 2. What is "Accounts Receivable, net" on Dyson's Dec. 31, 2023 Balance Sheet? 3. What is "Bad Debt Expense" on Dyson's 2023 Income Statement
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