Question: please quickly i only have 30 min At each calendar year-end, Cabool Supply Co uses the percent of accounts receivable method to estimate bad debts
At each calendar year-end, Cabool Supply Co uses the percent of accounts receivable method to estimate bad debts On December 31, 2015, it has outstanding accounts receivable of $128,500, and it estimates that 4% will be uncollectible. Prepare the adjusting entry to record bad debts expense for year 2015 under the assumption that the Allowance for Doubtful Accounts has (a) a $2,185 credit balance before the adjustment (b) a $643 debit balance before the adjustment (Omit the "S" sign in your response.) Adjusting entries (all dated December 31, 2015). (a) Debit General Journal (Click to select) (Click to select) Credit (b) (Click to select) (Click to select) Ask your instructor a
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