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Prepare the necessary journal entries for Perez Computers. 5 E7-7 (Recording Bad Debts) Duncan Company reports the following financial information before adjustments. Instructions Debit Credit

Prepare the necessary journal entries for Perez Computers.

5 E7-7 (Recording Bad Debts) Duncan Company reports the following financial information before adjustments.

Instructions

Debit Credit

Accounts Receivable $90,000

Allowance for Doubtful Accounts $1,750

Sales Revenue (all on credit) $680,000

Prepare the journal entry to record Bad Debt Expense assuming Duncan Company estimates bad debts at (a) 1% of net sales and (b) 5% of accounts receivable

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