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Give the journal entry to record bad debts expense

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Problem 1: In the unadjusted trial balance of Ordine Company, the net carrying value of the P30,000 accounts receivable is P28,000. This is due to the expected default of some customers in their payments the following year. However, at the year-end, it is estimated that only 80% of the accounts receivable are expected to be paid. Give the journal entry to record bad debts expense.

Reference no: EM132718687

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