Question
The trial balance before adjustment of Kingbird, Inc., reporting under ASPE, includes the following balances: Debit Credit Accounts receivable $99,000 Allowance for doubtful accounts
The trial balance before adjustment of Kingbird, Inc., reporting under ASPE, includes the following balances: Debit Credit Accounts receivable $99,000 Allowance for doubtful accounts 1,900 Sales revenue (all on credit) $650,000 Sales returns and allowances 28,000 (a1) Prepare the entry for bad debt expense for the current year assuming the allowance should be 3% of gross accounts receivable. (Credit account titles are automatically indented when the amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter O for the amounts. List debit entry before credit entry.) Account Titles and Explanation Debit Credit
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