Journalize the adjusting entry on December 31, 2015, for Bad Debts Expense, which is estimated to be

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Journalize the adjusting entry on December 31, 2015, for Bad Debts Expense, which is estimated to be 9% of net credit sales. The income statement approach is used. The following information is given:

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College Accounting A Practical Approach Chapters 1-25

ISBN: 9780133791006

13th Edition

Authors: Jeffrey Slater

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Question Posted: Apr 14, 2017 12:35 PM

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Journalize the adjusting entry on December 31, 2015, for Bad Debts Expense, which is estimated to be

Question:

Accounts Receivable Sales (credit) Dr. Cr. Sales Returns and Allowances Dr. Cr Dr. Cr. 26,000 107,000 480 Allowance for Doubtful Accounts Dr. Cr. Sales Discount Dr. Cr. 9,200 4,800

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College Accounting A Practical Approach Chapters 1-25

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