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Required adjusting journal entry at year-end

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Problem: As of December 31, Frappe Company has a balance of $21,000 in accounts receivable. Of this amount, $2,100 is past due and the remainder is not yet due. Frappe has a credit balance of $205 in the Allowance for Doubtful Accounts. Frappe Company estimates its bad debt losses using the aging of receivables method, with estimated bad debt loss rates equal to 1% of accounts not yet due and 10% of past due accounts. How will the Bad Debt Expense account be included in the required adjusting journal entry at year-end?

Reference no: EM132420878

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