Question
Gonzalez Company has been in business for several years. At the end of the current year, the ledger shows: Accounts Receivable$310,000Dr.Sales Revenue2,200,000Cr.Allowance for Doubtful Accounts6,100Cr.
Gonzalez Company has been in business for several years. At the end of the current year, the ledger shows:
Accounts Receivable$310,000Dr.Sales Revenue2,200,000Cr.Allowance for Doubtful Accounts6,100Cr.
Bad debts are estimated to be5% of accounts receivables. Prepare the entry to adjust Allowance for Doubtful Accounts
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Financial & Managerial Accounting
Authors: Carl S. Warren, James M. Reeve, Jonathan Duchac
13th edition
9781133607618, 978-1285868776
