If allowance for doubtful accounts has a credit balance of

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Reference no: EM13590527

The ledger of the Ramirez Company at the end of the current year shows Accounts Receivable of $200,000.

Instructions

If Allowance for Doubtful Accounts has a credit balance of $3,000 in the trial balance and bad debts are expected to be 8% of accounts receivable, journalize the adjusting entry for end of the period. (Show all calculations.)
If Allowance for Doubtful Accounts has a debit balance of $3,000 in the trial balance and bad debts are expected to be 8% of accounts receivable, journalize the adjusting entry for end of the period. (Show all calculations.)

Reference no: EM13590527

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