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Using the income statement approach, what is the amount of the entry to adjust bad debt expense and allowance for doubtful accounts? Bad debt at
Using the income statement approach, what is the amount of the entry to adjust bad debt expense and allowance for doubtful accounts?
| Bad debt at a percentage of sales | 2% |
| Bad debt as a percentage of A/R | 5% |
| Sales | 800,000 |
| A/R | 125,000 |
| Balance of bad debt expense before adjustment (debit balance) | 9,840 |
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Managerial Accounting Tools For Business Decision Making
Authors: Weygandt, Kimmel, Kieso
4th Edition
0470478535, 978-0470478530
