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Wedding Bells Banquet Hall uses the percentage of sales method to estimate bad debt expense . Given the following information for the month of December
Wedding Bells Banquet Hall uses the percentage of sales method to estimate bad debt expense . Given the following information for the month of December 20X5 , what would be the correct journal entry to record bad debt expense? Cash Sales $550,000 350,000 Credit Sales $ 900,000 Total Sales 2% Historical Bad Debt Percentage Current Balance in Allowance for Doubtful Accounts$ 10,500
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Financial Statement Analysis
Authors: K. R. Subramanyam, John J. Wild
10th edition
73379433, 73379432, 978-0073379432
