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what is the assets, liabilities, equity, revenue, expenses, and net income effects ? 1) 1-30 days 31-90 days >90 days Total Account Receivable 12000 5000
what is the assets, liabilities, equity, revenue, expenses, and net income effects ?
1) 1-30 days 31-90 days >90 days Total Account Receivable 12000 5000 3000 20000 Estimated Uncollectible(%) 5% 10% 20% Estimated Uncollectible(s) 600 500 600 1700 Already in allowance account: $800 credit So, $1700-S 800 =$900 to be recorded DATE DESCRIPTION POST. REF DEBIT CREDIT Bad Debts Expense $900 Allowance for doubtful Account $900 3) Already in allowance account :$600 debit So, $ 1700 + $ 600 = $ 2300 to be recorded DATE DESCRIPTION POST. REF. DEBIT CREDIT Bad Debts Expense S2300 Allowance for doubtful Account $2300 LOCALSStep by Step Solution
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