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Plz answer all three Create the adjusting entry: A company estimates that $20,000 of its $500,000 of accounts receivable will be uncollectible. Its Allowance for
Plz answer all three
Create the adjusting entry: A company estimates that $20,000 of its $500,000 of accounts receivable will be uncollectible. Its Allowance for Doubtful Accounts presently has a credit balance of $8,000 Create the adjusting entry: Uncollectible accounts expense is estimated at 0.25% of net sales of $4,000,000 for the year. The current balance in Allowance for Doubtful Accounts is $300 credit. Create the adjusting entry: a. Received 75% of the $20,000 balance owed by Webb Co., a bankrupt business. b. Wrote off remainder as uncollectibleStep by Step Solution
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