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What the adjusting journal entry to record bad debts expense

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Reference no: EM133004605

Problem 1: Value Company has the following account balances, before adjustment, on December 31 of the current year: Accounts Receivable $1,400,000; Allowance for Doubtful Accounts $70,000 Credit. An aging analysis of accounts receivable indicates that $108,000 is expected to become uncollectible. The adjusting journal entry to record bad debts expense will be for:

a. $108,000

b. $ 38,000

c. $178,000

d. $ 70,000

e. None of the above

Reference no: EM133004605

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