Question: 1 . 1 4 points A company reports year - end balances of $ 9 , 5 0 0 , 0 0 0 (
points A company reports yearend balances of $debit for Accounts Receivable and $debit for the Allowance for Doubtful Accounts. Sales revenue for the year was $ Using this information, answer the following independent questions: a The company estimates that percent of sales will ultimately be uncollectible. i Prepare the journal entry to record bad debts for the year. ii What is the final balance in the allowance account? b Would your answer to Part a change if the balance of the allowance account had been $credit Explain. c Referring back to the original data, an analysis of outstanding account receivables indicates that $ the accounts will be uncollectible. i Prepare the journal entry to record bad debts for the year. ii What is the final balance in the allowance account? d Would your answer to Part c change if the balance in the allowance account had been $ credit before the year end adjustment was made? Explain.
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