Prepare the adjusting entry to record bad debts under each separate assumption.

a. bad debts are estimated to be 4% of credit sales.
b. bad debts are estimated to be 3% of total sales.
c. an aging analysis estimates that 7% of year-end accounts receivable are uncollectible.

Question

07-04-2022
Business

Answered

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Prepare the adjusting entry to record bad debts under each separate assumption.

a. bad debts are estimated to be 4% of credit sales.
b. bad debts are estimated to be 3% of total sales.
c. an aging analysis estimates that 7% of year-end accounts receivable are uncollectible.

Sagot :

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