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Test 2 Calculator Providing for Doubtful Accounts ? At the end of the current year, the accounts receivable account has a debit balance of $807,000
Test 2 Calculator Providing for Doubtful Accounts ? At the end of the current year, the accounts receivable account has a debit balance of $807,000 and sales for the year total 59,150,000. a. The allowance account before adjustment has a debit balance of $10,900. Bad debt expense is estimated at 1/4 of 1% of sales. b. The allowance account before adjustment has a debit balance of $10,900. An aging of the accounts in the customer ledger indicates estimated doubtful accounts of $34,900. c. The allowance account before adjustment has a credit balance of $5,800. Bad debt expense estimated at 1/2 of 1% of sales. d. The allowance account before adjustment has a credit balance of $5,800. An aging of the accounts in the customer ledger indicates estimated doubtful accounts of $48,100. Determine the amount of the adjusting entry to provide for doubtful accounts under each of the assumptions (a through d) listed above. b. s s d. s Previous Next All work saved. Save and Exit Submit Test for Grading
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