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You are the credit manager for Old Westbury Corp. At the end of the year you review the aging of receivables and calculate the estimated

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You are the credit manager for Old Westbury Corp. At the end of the year you review the aging of receivables and calculate the estimated adjustment to the Allowance for Bad Debt account. Calculate the target Allowance balance given the above information B. Prepare the Journal Entries assuming: a. The Allowance for doubtful accounts has a credit balance of $10,000 b. The Allowance for doubtful accounts has a debit balance of $5,000

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