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Q2- The ledger of Exford Company at 31/12/2018 shows accounts receivable of $284,000, Sales Revenue $940,000, and Sales Returns and Allowances $125,000, purchase $ 287,00.
Q2- The ledger of Exford Company at 31/12/2018 shows accounts receivable of $284,000, Sales Revenue $940,000, and Sales Returns and Allowances $125,000, purchase $ 287,00. Instructions Journalize the adjusting entry for the following cases: 1- By using direct write-off method to account for uncollectible accounts, journalize the adjusting entry at December 31, assuming Taderan determines that Fuad $4,075 balance is uncollectible. 2- Taderan company expected that 4% of the accounts receivable will be uncollectable and the allowance for doubtful accounts has a credit balance of $5,175. 3- Taderan company expected that 6% of the net sales will be uncollectable and the Allowance for Doubtful Accounts has a debit balance of $8,410. 4- If Allowance for Doubtful Accounts has a debit balance of $ 870 before adjusting, and the balan
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