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Sun Corporation sold $85,000 of goods on credit in January Year Two. Company officials anticipated that $10,000 will eventually prove uncollectible. In March Year Two,
Sun Corporation sold $85,000 of goods on credit in January Year Two. Company officials anticipated that $10,000 will eventually prove uncollectible. In March Year Two, $2,000 of the accounts were discovered to be uncollectible and written off. Present the journal entry or adjusting entry to record the following:
a. Sales transactions
b. Recognition of bad debt expense
c. Write off of bad debts
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