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Percent of Sales Method At the end of the current year, Accourits Rnceivable has a balance of $605,000; Alowance for Doubcful Accounck has a creat
Percent of Sales Method At the end of the current year, Accourits Rnceivable has a balance of $605,000; Alowance for Doubcful Accounck has a creat baiance of $5,500; and saves for the year total 52,720,000. Bod debs expence is estimated of 1/4 of 1% of isales. a. Debermine the amount of the adjusting entry for uncoliectible accounts. x b. Determine the adjusted balances of Accounts Recelvable, Allowance for Doubtrul Accounts, and Ead Debt Expense. c. Determine the net redizable value of accounts receivable. x
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