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Prepare the adjusting journal entry required at january

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Reference no: EM132820727

Rogala Foods Inc. was formed in 2015 with the merger of Grouch Mayer and Tashamo Corporation. The company reported the following rounded amounts for the year ended January 3, 2016 (all amounts in millions):

accounts receiable 1,180

allowance for doubtful accounts 46

sales assume all on credit 18,900

Problem 1: Assume instead Rogala uses the aging of accounts receivable method and estimates that $86 of its Accounts Receivable will be uncollectible. Prepare the adjusting journal entry required at January 3, 2016, for recording Bad Debt Expense.

Reference no: EM132820727

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