At December 31, Folgeys Coffee Company reports the following results for its calendar year. Cash sales...
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At December 31, Folgeys Coffee Company reports the following results for its calendar year. Cash sales Credit sales $ 910,000 310,000 Its year-end unadjusted trial balance includes the following items. Check my work Accounts receivable Allowance for doubtful accounts $ 135,000 debit 6,000 debit Prepare the adjusting entry to record bad debts expense assuming uncollectibles are estimated to be (1) 5% of credit sales, (2) 3% of total sales and (3) 8% of year-end accounts receivable. View transaction list Journal entry worksheet 1 2 3 Record Bad Debts Expense assuming uncollectibles are estimated to t5% of credit sales. Note: Enter debits before credits. Date General Journal Debit Credit < Prev 6 of 10 Next > At December 31, Folgeys Coffee Company reports the following results for its calendar year. Cash sales Credit sales $ 910,000 310,000 Its year-end unadjusted trial balance includes the following items. Check my work Accounts receivable Allowance for doubtful accounts $ 135,000 debit 6,000 debit Prepare the adjusting entry to record bad debts expense assuming uncollectibles are estimated to be (1) 5% of credit sales, (2) 3% of total sales and (3) 8% of year-end accounts receivable. View transaction list Journal entry worksheet 1 2 3 Record Bad Debts Expense assuming uncollectibles are estimated to t5% of credit sales. Note: Enter debits before credits. Date General Journal Debit Credit < Prev 6 of 10 Next >
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