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You will need to prepare general journal entries for the following transactions of Bubba Company. Please assume they use the allowance method to account for

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You will need to prepare general journal entries for the following transactions of Bubba Company. Please assume they use the allowance method to account for uncollectible accounts. 360 day year Apr 01 Sold $6,500 of merchandise to Screen Co., receiving an 8%, 90-day, $6,500 note. Apr 15 Wrote off $1,500 owed by Folder Co. from a previous period sale. Apr 30 Made a $5,000, 6%, 30-day note receivable from Tape Co. as settlement for its $5,000 account receivable. May 30 The note received from Tape on April 30 was collected in full. June 30 Screen Co. was unable to pay the note on the due date, the loan defaulted. July 15 Folder Co. paid $1,000 of the amount written off on April 15

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