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The following balances for Green Lantern, Incs accounts are available at 12/31/Y1. Adjusting entries have not yet been recorded. Accounts Receivable - $80,000 Allowance for
The following balances for Green Lantern, Incs accounts are available at 12/31/Y1. Adjusting entries have not yet been recorded. Accounts Receivable - $80,000 Allowance for Doubtful Accounts - $1,750 Sales Revenue (all sales were made on a credit basis) - $580,000 Green Lanterns policy for estimating bad debts is 4% of gross accounts receivable
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