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Calculate the year end entry to record bad debt expense

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Question - A Company has accounts receivable of $400,000; Sales of $1,500,000; and an unadjusted credit balance of $2,000 in Allowance for Doubtful Accounts. Calculate the year end entry to record bad debt expense under each of the following situations (show your calculations):

a. Bad debts are estimated to be 2% of Sales.

b. Bad debts are estimated to be 6% of Accounts Receivable.

Reference no: EM133152249

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