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Pike Lake Tours uses the % of Accounts Receivable method to calculate their allowance and the rate they use is 10%. The general ledger has
Pike Lake Tours uses the % of Accounts Receivable method to calculate their allowance and the rate they use is 10%. The general ledger has the following balances at the end of their business year.
Accounts Receivable 45,300
Allowance for Doubtful Accounts 250
Credit Sales Revenue 175,000
Bad Debt Expense 0
After you enter the Journal to reflect the year-end adjustment the account balances will be
Accounts Receivable ?
Allowance for Doubtful Accounts ?
Credit Sales Revenue ?
Bad Debt Expense ?
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