Chapter 8 Practice Problems Problem 9 Analysis of Accounts Receivable Method At the end of the current year, Accounts Receivable has a balance of $6,000,000 Allowance for Doubtful Accounts has a credit balance of $50,000 and Net Sales for the year total $18,000,000 Using the Analysis of Accounts Receivable Method the balance for the Allowance for Doubtful Accounts is estimated as $125,000 1) Calculate the dollar amount required to record the allowance amount 2) Prepare the adjusting journal entry for the Allowance for Doubtful Accounts Date Accounts 3) Calculate the Net Accounts Receivable Balance Problem 10 Analysis of Accounts Receivable Method At the end of the current year, Accounts Receivable has a balance of $400,000 Allowance for Doubtful Accounts has a credit balance of $1,800 and Net Sales for the year total $6,000,000 Using the Analysis of Accounts Receivable Method the balance for the Allowance for Doubtful Accounts is estimated as $80,000 1)Calculate the dollar amount required to record the allowance amount Date Dr 2) Prepare the adjusting journal entry for the Allowance for Doubtful Accounts Accounts 3) Calculate the Net Accounts Receivable Balance Cr Dr Cr

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Chapter 8 Practice Problems Problem  9   Analysis of Accounts Receivable Method At the end of the current year, Accounts Receivable has a balance of $6,000,000  Allowance for Doubtful Accounts has a credit balance of $50,000  and Net Sales for the year total $18,000,000  Using the Analysis of Accounts Receivable Method the balance for the Allowance for Doubtful Accounts is estimated as $125,000  1) Calculate the dollar amount required to record the allowance amount  2) Prepare the adjusting journal entry for the Allowance for Doubtful Accounts  Date Accounts 3) Calculate the Net Accounts Receivable Balance Problem   10   Analysis of Accounts Receivable Method At the end of the current year, Accounts Receivable has a balance of $400,000  Allowance for Doubtful Accounts has a credit balance of $1,800  and Net Sales for the year total $6,000,000  Using the Analysis of Accounts Receivable Method the balance for the Allowance for Doubtful Accounts is estimated as $80,000  1)Calculate the dollar amount required to record the allowance amount  Date Dr 2) Prepare the adjusting journal entry for the Allowance for Doubtful Accounts  Accounts 3) Calculate the Net Accounts Receivable Balance Cr Dr Cr

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Question: Chapter 8 Practice Problems Problem #9 - Analysis of Accounts Receivable Method At the end of the current year, Accounts Receivable has a balance

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