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help and explain Providing for Doubtful Accounts At the end of the current year, the accounts receivable account has a debit balance of $844,000 and
help and explain
Providing for Doubtful Accounts At the end of the current year, the accounts receivable account has a debit balance of $844,000 and sales for the year total $9,560,000. a. The allowance account before adjustment has a debit balance of $11,400. Bad debt expense is estimated at 1/2 of 1% of sales. b. The allowance account before adjustment has a debit balance of $11,400. An aging of the accounts in the customer ledger indicates estimated doubtful accounts of $36,500. C. The allowance account before adjustment has a credit balance of $6,000. Bad debt expense is estimated at 1/4 of 1% of sales. d. The allowance account before adjustment has a credit balance of $6,000. An aging of the accounts in the customer ledger indicates estimated doubtful accounts of $49,800. Determine the amount of the adjusting entry to provide for doubtful accounts under ench of the assumptions (a through a listed above. b. c Step by Step Solution
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