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Question 2 of 4 - /25 TH View Policies Current Attempt in Progress Blossom Company had a $560 credit balance in Allowance for Doubtful Accounts
Question 2 of 4 - /25 TH View Policies Current Attempt in Progress Blossom Company had a $560 credit balance in Allowance for Doubtful Accounts at December 31, 2020, before the current year's provision for uncollectible accounts. An aging of the accounts receivable revealed the following: Estimated Percentage Uncollectible 1 % $96,000 16,000 3 % 8,000 6 % Current Accounts 1-30 days past due 31-60 days past due 61-90 days past due Over 90 days past due Total Accounts Receivable 8,000 1256 6,400 30 % $134,400 (a) Prepare the adjusting entry on December 31, 2020, to recognize bad debt expense. (Credit occount titles are automatically indented when the amount is entered. Do not indent manually. List all debit entry before credit entry.) Account Titles and Explanation Debit Credit (a) Prepare the adjusting entry on December 31, 2020, to recognize bad debt expense. (Credit account titles are automatically indented when the amount is entered. Do not indent manually. List all debit entry before credit entry) Account Titles and Explanation Debit Credit Save for Later Attempts: 0 of 1 used Submit Answer (b) The parts of this question must be completed in order. This part will be available when you complete the part above
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