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Recognizing Accounts Receivable On June 7, Bixby Co. sells $1,000 of merchandise to Jasmine Co. on account. Jasmine Co. pays for this merchandise on June

Recognizing Accounts Receivable On June 7, Bixby Co. sells $1,000 of merchandise to Jasmine Co. on account. Jasmine Co. pays for this merchandise on June 21. a. Prepare the adjusting entry for estimated credit losses on December 31. b. Prepare the journal entry to write off the Rose Companys account on April 10 of the following year in the amount of $625.

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