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Problem-
The trial balance before adjustment of Reba Mclntyre Inc. shows the following balances.
Dr. Cr. Accounts Receivable $90,000 Allowance for doubtful Accounts 1,750 Sales (all on credit) 680,000 Instructions:
Prepare the entry for estimated bad debts assuming that the allowances is to provide for doubtful accounts on the basis of (a) 4% of gross accounts receivable and (b) 1% of net sales.
Additional information-
The problem belongs to Accounting Basics and it is about passing journal entries for estimated bad debts assuming allowances to provide for doubtful accounts.
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