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Interest aceruals are calculated using a 365-day year with the day after the note was made counting as the first day. General ledger account numbers
Interest aceruals are calculated using a 365-day year with the day after the note was made counting as the first day. General ledger account numbers for the journal entry are: A/C \#40800 (interest Expense) and A/C H21000 (Interest Payable). Show your calculation below. -9-2. Bad Debt Expense and Allowance Required Bad debt expense is estimated once annually at the end of each year as 1/2 of one percent (0.0050) of net sales and is recorded in the general journal as of December. 31 . The "allowance" method of recording bad debt expense is used. General ledger account numbers for the journal entry are: A/C 440900 (Bad Debt Expense) and A/C H10300 (Allowance for Doubtful Account). Show your calculation below. -9-3. Federal Income Taxes Required As of our publication date, the federal corporate tax'rate was 21%. General ledger account numbers for the journal entry are: A/C \#40700 (Federal Income Tax Expense) and A/C#20800 (Federal Income Taxes Payable). Show your calculation below. Interest aceruals are calculated using a 365-day year with the day after the note was made counting as the first day. General ledger account numbers for the journal entry are: A/C \#40800 (interest Expense) and A/C H21000 (Interest Payable). Show your calculation below. -9-2. Bad Debt Expense and Allowance Required Bad debt expense is estimated once annually at the end of each year as 1/2 of one percent (0.0050) of net sales and is recorded in the general journal as of December. 31 . The "allowance" method of recording bad debt expense is used. General ledger account numbers for the journal entry are: A/C 440900 (Bad Debt Expense) and A/C H10300 (Allowance for Doubtful Account). Show your calculation below. -9-3. Federal Income Taxes Required As of our publication date, the federal corporate tax'rate was 21%. General ledger account numbers for the journal entry are: A/C \#40700 (Federal Income Tax Expense) and A/C#20800 (Federal Income Taxes Payable). Show your calculation below
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