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Record the Adjusting Entry for A and B

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Question - Record the Adjusting Entry for A and B

a) At the end of the current year, Accounts Receivable has a balance of $4,770,000, Allowance for Doubtful Accounts has a debit balance of $17,230, and sales for the year total $63,800,000. Bad debt expense is estimated at 3⁄4 of 1% of sale.

b) At the end of the current year, Accounts Receivable has a balance of $4,770,000, Allowance for Doubtful Accounts has a debit balance of $17,230, and sales for the year total $63,800,000. Using the aging method, the balance of Allowance for Doubtful Accounts is estimated as $380,000.

Reference no: EM133072207

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