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Sustainable Supplies prepares the following aging of receivables analysis: Days Past Due Total Current 1 to 30 31 to 60 61 to 90 Over 90
Sustainable Supplies prepares the following aging of receivables analysis: Days Past Due Total Current 1 to 30 31 to 60 61 to 90 Over 90 Accounts receivable $ 57,600 $ 40,000 $ 9,000 $ 3,600 $ 2,000 $ 3.000 Percent uncollectible 11 30 50 88 111 Prepare the adjusting entry to record bad debts expense assuming the unadjusted balance in the Allowance for Doubtful Accounts is a $500 credit Multiple Choice Debit Bad Debts Expense $840; credit Allowance for Doubtful Accounts $840. Debit Allowance for Doubtful Accounts $840; credit Bad Debts Expense $840. Debit Bad Debts Expense $1,840; credit Allowance for Doubtful Accounts $1,840. Debit Allowance for Doubtful Accounts $1,840; credit Bad Debts Expense $1,840. Debit Bad Debts Expense $1,340; credit Allowance for Doubtful Accounts $1,340
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