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Make the year-end entry to record doubtful-account expense

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Question - Reporting bad debts by the allowance method - On December 31, Darla's Travel has an accounts receivable balance of $85,000. Allowance for Doubtful Accounts has a credit balance of $680 before the year-end adjustment. Darla's Travel estimates that doubtful-account expense for the year is equal to 8% of ending receivables. Make the year-end entry to record doubtful-account expense. Show how the accounts receivable and the allowance for doubtful accounts are reported on the Balance Sheet.

Reference no: EM133072398

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