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The following information pertains to a company at the end of December: The company uses the aging method and estimates it will not collect 7%
The following information pertains to a company at the end of December: The company uses the aging method and estimates it will not collect 7% of accounts receivable not yet due, 13\% of receivables up to 30 days past due, and 48% of receivables greater than 30 days past due. The accounts receivable balance of $7,200 consists of $3,500 not yet due, $2,000 up to 30 days past due, and $1,700 greater than 30 days past due. What is the appropriate amount of Bad Debt Expense? A company uses the aging of receivables method. During the year, the company recorded credit sales of $540,000. Before adjusting entries at year-end, the company has accounts receivable of $350,000, of which $60,000 is past due, and the allowance account had a credit balance of $2,800. The company expects it will not collect 8% of the amount not yet past due and 22% of the past due accounts. Which of the following adjusting entries will the company record at year-end
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