E$)$Year$-$end adjusting entry to record bad debt expense

Assuming the company uses the balance sheet approach to estimating uncollectibles, determine the:

I$)$Ending balance in allowance for doubtful accounts after adjustment

J$)$Net realizable value of receivables after adjustment for bad debts The following information was taken from the records of Alphabet Soup for the year ended December $31$:

Determine the following:

A$)$ Gross sales

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B$)$ Net sales

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C$)$ Gross profit

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Assuming the company uses the income statement approach to estimating uncollectibles, determine the

D$)$ Bad debt estimate percentage

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E$)$ Year$-$end adjusting entry to record bad debt expense

Bad Debt Expense

Assuming the company uses the income statement approach to estimating uncollectibles, determine the:

F$)$ Ending balance in allowance for doubtful accounts after adjustment

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G$)$ Net realizable value of receivables after adjustment for bad debts

s

Assuming the company uses the balance sheet approach to estimating uncollectibles, determine the:

H$)$ Gross receivables

s

I$)$ Ending balance in allowance for doubtful accounts after adjustment

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J$)$ Net realizable value of receivables after adjustment for bad debts

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