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The ledger of the Ramirez Company at the end of the current year shows Accounts Receivable of $200,000. Instructions If Allowance for Doubtful Accounts has
The ledger of the Ramirez Company at the end of the current year shows Accounts Receivable of $200,000.
Instructions
- If Allowance for Doubtful Accounts has a credit balance of $3,000 in the trial balance and bad debts are expected to be 8% of accounts receivable, journalize the adjusting entry for end of the period. (Show all calculations.)
- If Allowance for Doubtful Accounts has a debit balance of $3,000 in the trial balance and bad debts are expected to be 8% of accounts receivable, journalize the adjusting entry for end of the period. (Show all calculations.)
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