11. Av At December 31, 2020, the trial balance of Sameer Limited contained the following amounts...

 

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11. Av At December 31, 2020, the trial balance of Sameer Limited contained the following amounts before adjustment. Debit • The company estimates that 3.5% of total receivables will be uncollectible. Accounts Date Dec. 31 Instructions Prepare the adjusting entry at December 31, 2020, for bad debt expense under each of the following independent assumptions: Accounts : # • The company estimates that 4% of sales will be uncollectible. Date Dec. 31 " Ĉ Debit Accounts Receivable Notes Receivable (Short Term) Allowance for Doubtful Accounts Sales Revenue Debit KD 560,000 210,000 6,000 Credit Credit Credit 900,000 11. Av At December 31, 2020, the trial balance of Sameer Limited contained the following amounts before adjustment. Debit • The company estimates that 3.5% of total receivables will be uncollectible. Accounts Date Dec. 31 Instructions Prepare the adjusting entry at December 31, 2020, for bad debt expense under each of the following independent assumptions: Accounts : # • The company estimates that 4% of sales will be uncollectible. Date Dec. 31 " Ĉ Debit Accounts Receivable Notes Receivable (Short Term) Allowance for Doubtful Accounts Sales Revenue Debit KD 560,000 210,000 6,000 Credit Credit Credit 900,000

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Accounting for uncollectible is the creating an allowance for the doubtful accounts If th... View the full answer