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Estimates for bad debt losses: a. Based on ending balance of accounts receivable, 8%. b. Based on aging schedule (excludes Slo's account): Required: 1. Give
Estimates for bad debt losses: a. Based on ending balance of accounts receivable, 8%. b. Based on aging schedule (excludes Slo's account): Required: 1. Give the entry to write off customer Slo's long-overdue account. (If no entry is required for a transaction/event, select "No journal entry required" in the first account field.) 2. Give all entries related to accounts receivable and the allowance account for the following two cases: (If no entry is required for a transaction/event, select "No journal entry required" in the first account field.) Case A Bad debt expense is based on the ending balance of accounts receivable Case BBad debt expense is based on aging 3. Show how the results of applying each case above should be reported in 205 earnings and on the 205 statement of financial position
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