Question: 20.00 points E6-7 Recording Bad Debt Expense Estimates and Write-Offs Using the Percentage of Credit Sales Method LO6-2 During the current year, Adams Assembly, Inc.,
20.00 points E6-7 Recording Bad Debt Expense Estimates and Write-Offs Using the Percentage of Credit Sales Method LO6-2 During the current year, Adams Assembly, Inc., recorded credit sales of $860,000 Based on prior experience, it estimates a 1 percent bad debt rate on credit sales. Required: Prepare journal entries for each transaction: (If no entry is required for a transaction/event, select "No journal entry required in the first account field.) a. On September 29 of the current year, an account receivable for $2,100 from March of the current year was determined to be uncollectible and was written off. b. The appropriate bad debt expense adjustment was recorded for the current year. Journal entry worksheet Record the entry to write-off the uncollectible account. Noter er det before credits Transaction General Journal Debat Credit References Book & Resources General Journal Driculty: 1 Easy Leaming : 05-02 Este report and thee of E6-7 Recording Bad Debt Expense Estimates and write Of Using the Percentage of Credit Sales Method LO62 receive c bad debts) on m
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