Determining Financial Statement Effects of Bad Debts Using the following categories, indicate the effects of the following
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Using the following categories, indicate the effects of the following transactions. Use + for increase and − for decrease and indicate the accounts affected and the amounts.
a. At the end of the period, bad debt expense is estimated to be $17,000.
b. During the period, bad debts are written off in the amount of $8,000.
Assets = Liabilities + Stockholders’ Equity
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