DWC, LLC had $375.760 of accounts receivable and $782.160 in sales during the year. The December...
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DWC, LLC had $375.760 of accounts receivable and $782.160 in sales during the year. The December 31st balance, before any adjustments, for the Allowance for Doubtful Accounts is $1.400 (debit balance). Prepare the adjusting journal entry needed on December 31st if DWC, LLC estimates bad debts to be 2% of accounts receivable. (Round all calculations to the nearest whole dollar and show your calculations.) DWC, LLC had $375.760 of accounts receivable and $782.160 in sales during the year. The December 31st balance, before any adjustments, for the Allowance for Doubtful Accounts is $1.400 (debit balance). Prepare the adjusting journal entry needed on December 31st if DWC, LLC estimates bad debts to be 2% of accounts receivable. (Round all calculations to the nearest whole dollar and show your calculations.)
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Step 1 Calculate the estimated bad debts Estimated Bad Debts Accounts Receivable Bad Debt ... View the full answer
Related Book For
Intermediate Accounting
ISBN: 978-0176509736
10th Canadian Edition, Volume 1
Authors: Donald Kieso, Jerry Weygandt, Terry Warfield, Nicola Young,
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