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Journalize the appropriate entries for bad debt expense and payments, if any, for each independent scenario:On June 30, Brown Company had credit sales were $500,000
Journalize the appropriate entries for bad debt expense and payments, if any, for each independent scenario:On June 30, Brown Company had credit sales were $500,000 for the period. Accounts receivable balance was $20,000. Brown Company determined that Blue Companys accounts receivable account which made up 50% of the accounts receivable balance was uncollectible and wrote-off the uncollectible amount on June 30 under the direct write-off method. Blue Company made a $5,000 payment on the written off account on August 1
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