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Green Company has $400,000 of accounts receivable at the end of the period. The management of Brown Co. estimates that $10,000 for its accounts
Green Company has $400,000 of accounts receivable at the end of the period. The management of Brown Co. estimates that $10,000 for its accounts receivable will not be collected. The Allowance for Doubtful Accounts has a credit balance of $7,200. What is the journal entry to record Bad Debt expense for the year? Select one: O Bad Debt Expense 2,800. Allowance for doubtful accounts 2,800 O Allowance for doubtful accounts 2,800 Bad debt expense 2,800 Bad debt expense 2,800 Accounts receivable 2,800 Allowance for doubtful accounts 10,000 Bad debt expense 10,000 Ken Company had a beginning of the year balance in accounts receivable of $90,000 and an ending of the year balance in accounts receivable of $80,000. Credit sales during the year are $600,000 and cash sales are $100,000. What is the amount of cash collections from accounts receivable during the year? Select one: O $610,000 O $710,000 $690,000 $10,000
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