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I need help as soon as possible Tamarisk, inc, uses the percentage-of-receivables basis to record bad debt expense and concludes that 3% of accounts receivable
I need help as soon as possible
Tamarisk, inc, uses the percentage-of-receivables basis to record bad debt expense and concludes that 3% of accounts receivable will become uncollectible. Accounts receivable are $606,000 at the end of the vear, and the allowance for donbtful accounts has a eredit bahance of $3,450. Prepare the adjusting journal entry to record bad debt expense for the vear. (Credit account titles ore cautomatically indented when amount is entered. Do not indent manualiy) If the allowance for doubtful accounts had a debit balance of $900 instead of a credit balance of $3,450, prepare the adjusting Journal entry for bad debt expense. (Credit account titles are automatically indented when amount is entered Do not indent monuolly) Step by Step Solution
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