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Prepare the december journal entry

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Problem - Ayayai Corp. had net sales in 2020 of $1.6 million. At December 31, 2020, before adjusting entries, the balances in selected accounts were as follows: Accounts Receivable $241,600 debit; Allowance for Doubtful Accounts $3,500 debit. Assume Ayayai has examined the aging of the accounts receivable and has determined the Allowance for Doubtful Accounts should have a balance of $31,000, prepare the December 31, 2020 journal entry to record the adjustment to Allowance for Doubtful Accounts.

Reference no: EM133006682

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