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How would I prepare the adjusting entries to record the band expense assuming to be 6% credit sales, 4% total sales and 9% of the
How would I prepare the adjusting entries to record the band expense assuming to be 6% credit sales, 4% total sales and 9% of the year end accounts receivable? and what would the journal wntries be?
At December 31, Folgeys Coffee Company reports the following results for its calendar year. Its year-end unadjusted trial balance includes the following items. Prepare the adjusting entry to record bad debts expense assuming uncollectibles are estimated to be (1) 6% of credit sales, (2) 4% of total sales and (3) 9% of year-end accounts receivable. Journal entry worksheet Record Bad Debts Expense assuming uncollectibles are estimated to be 6% of credit sales. Journal entry worksheet Record Bad Debts Expense assuming uncollectibles are estimated to be 6% of credit sales. Note: Enter debits before credits. Journal entry worksheet Record Bad Debts Expense assuming uncollectibles are estimated to be 4% of total sales. Note: Enter debits before credits. Journal entry worksheet Record Bad Debts Expense assuming uncollectibles are estimated to be 9% of year-end accounts recelvable. Note: Enter debits before credits Step by Step Solution
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