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During its first year of operations, Bridgeport Corp. had credit sales of $2,791,300, of which $394,900 remained uncollected at year-end. The credit manager estimates that
During its first year of operations, Bridgeport Corp. had credit sales of $2,791,300, of which $394,900 remained uncollected at year-end. The credit manager estimates that $18,080 of these receivables will become uncollectible Your answer is correct. Prepare the journal entry to record the estimated uncollectibles. (Assume an unadjusted balance of zero in Allowance for Doubtful Accounts.) (Credit account titles are automatically indented when amount is entered. Do not indent manually.) Account Titles and Explanation Debit Credit Bad Debt Expense 18080 Allowance for Doubtful Accounts 18080 Click if you would like to Show Work for this question: Open Show Work Prepare the current assets section of the balance sheet for Bridgeport Corp., assuming that in addition to the receivables it has cash of $84,690, merchandise inventory of $168,600, and supplies of $12,510. (List current assets in order of liquidity) Bridgeport Corp. Balance Sheet (partial) For the Year Ended December 31, 2017 Click if you would like to Show Work for this question: pen Show Work
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