Recording bad debts, Prepare the necessary journal entries

Recording bad debts

Assignment Help Financial Accounting

Reference no: EM13754126

Prepare the necessary journal entries for Perez Computers.

(Recording Bad Debts) Duncan Company reports the following financial information before adjustments.

Instructions

Accounts Receivable Allowance for Doubtful Accounts Sales Revenue (all on credit) Sales Returns and Allowances

$100,000

50,000

$ 2,000 900,000

Prepare the journal entry to record Bad Debt Expense assuming Duncan Company estimates bad debts at (a) 1% of net sales and (b) 5% of accounts receivable

Reference no: EM13754126

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