Journalize the adjusting entry on December 31, 2018, for Bad Debts Expense, which is estimated to be

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Journalize the adjusting entry on December 31, 2018, for Bad Debts Expense, which is estimated to be 4% of net credit sales. The income statement approach is used. The following information is given:

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Journalize the adjusting entry on December 31, 2018, for Bad Debts Expense, which is estimated to be

Question:

Accounts Receivable Sales (credit) Sales Returns and Allowances Dr. Cr. Dr. Cr. Dr. Cr. 25,000 106,000 600 Allowance for Doubtful Sales Discount Accounts Dr. Cr. Dr. Cr. 9,400 6,000

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