During 2011, Gonzales Electronics Incorporated, recorded credit sales of $790,000. Based on prior experience, it estimates a
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Required:
Prepare journal entries for each transaction:
a. The appropriate bad debt expense adjustment was recorded for the year 2011.
b. On December 31, 2011, an account receivable for $240 from a prior year was determined to be uncollectible and was written off.
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a Bad debt expense E SE 790000 x 003 23700 Allo...View the full answer
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