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with full explanation and calculations please! B. Provide the journal entries for credit sales during 2019. C. Provide the journal entries for the write-offs of
with full explanation and calculations please!
B. Provide the journal entries for credit sales during 2019. C. Provide the journal entries for the write-offs of during 2019. Question 1: Revenue Recognition and Accounts Receivable (20 points) If needed, empty t-accounts are provided on page 5 for your own use in solving this question. Answer the following questions using information below taken from the footnotes to the financial statements of the 2019 Annual Report of Caterpillar Inc., world leading manufacturer of construction and mining equipment, engines and diesel-electric locomotives. Suppose that Caterpillar, Inc. uses the percentage of credit sales method and estimates that 0.5% of its credit sales will go uncollectible. Focus on the "Total" column in the footnote for the following questions. A. Provide the journals entries for the recognition of expense during 2019Step by Step Solution
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