Prepare any relevant journal entries for frank

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Problem 1: Frank's bad debt expenses for accounts receivable were recorded at a rate of 1.5% using an aging analysis. Upon completing the adjusted trial balance for 2010, Frank increased the bad debt estimate to 2.5%. If the new rate would have been used in past years, cumulative bad debt expenses would have been $60,000 rather than $47,000. In 2020, bad debt expenses will be $23,000 rather than $18,500. Bad debt expense is included in selling expenses for reporting. Prepare any relevant journal entries for Frank.

Reference no: EM132973438

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