Assuming that in Exercise 13B-2 the balance sheet approach is used, prepare a journalized adjusting entry for
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In Exercise13B-2 Balance Sheet
Balance sheet is a statement of the financial position of a business that list all the assets, liabilities, and owner’s equity and shareholder’s equity at a particular point of time. A balance sheet is also called as a “statement of financial...
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Sales Returns and Allowances Accounts Receivable Sales Dr. Cr Dr. Cr 31,000 113,000 540 Allowance for Doubtful Accounts Dr. Cr. Sales Discount Dr. Cr 9,100 4,700
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