Question
Mantle Company has been in business several years. At the end of the current year; the unadjusted trial balance shows: Accounts Receivable $ 310,000 Dr.
Mantle Company has been in business several years. At the end of the current year; the unadjusted trial balance shows:
Accounts Receivable $ 310,000 Dr. Sales Revenue 2,200,000 Cr. Allowance for Doubtful Accounts 5,700 Cr.
Bad debts are estimated to be 7% of receivables.
Instructions:
Prepare the entry to adjust Allowance for Doubtful Accounts.
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Managerial Accounting
Authors: Harold M. Sollenberger, Arnold Schneider, Lane K. Anderson
9th Edition
0538842822, 978-0538842822
