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I followed step by step of this question being solved on here and got thr wrong answers Harvest Company has the following December 31 General
I followed step by step of this question being solved on here and got thr wrong answers
Harvest Company has the following December 31 General Ledger Account Balances after adjustments relating to Sales and Receivables: Sales $21,250 (of which 40% are credit sales still outstanding) Sales returns and Allowances $1,000 Miscellaneous Receivables $1,212 Allowance for Doubtful Accounts $1,502 Long term Receivables $9,014 Advances to Shareholders and Directors $3,947 Notes Receivables $2,903 (Current Portion) Bad Debt Expense is estimated as 4% of credit sales Required 1: Assuming no other transaction happened, what is the Bad Debt Expense reported on Decmber 31st? $ O Required 2: Assuming no other transaction happened, what is the adjusted net balance of all current Receivables at December 31st? $ Required 3: Assuming no other transaction happened, what is the adjusted net balance of Accounts Receivables at December 31st? $
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