Question
Show your work to receive partial credit. The trial balance for Tommy Co. revealed the following balances before adjustments as of 12/31/2022. Accounts Receivable
Show your work to receive partial credit. The trial balance for Tommy Co. revealed the following balances before adjustments as of 12/31/2022. Accounts Receivable Allowance for Doubtful Accounts Sales, Net (all on credit) $ 80,000 $ 1,750 $ 580,000 Tommy Co. estimates that 4% of gross accounts receivable will be uncollectible. a. (7 pts) Provide the adjusting FSET impact to record bad debt expense for 2022? b. (3 pts) Show the presentation of accounts receivable that Tommy Co. will report on its December 31, 2022 balance sheet.
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