Question: PLZ TYPE THE ANSWER THANKS Problem 3 The Downtown Restaurant uses the percentage of sales method of estimating bad debts. Required: Using the following information,

PLZ TYPE THE ANSWER THANKS Problem 3 The Downtown Restaurant uses

PLZ TYPE THE ANSWER THANKS

Problem 3 The Downtown Restaurant uses the percentage of sales method of estimating bad debts. Required: Using the following information, journalize the necessary entry on December 31, 20X3: Cash Sales $ 200,000 Credit Sales 300,000 Total Sales 500,000 Expected Bad Debts Percentage 1.5 Current credit balance in the allowance account: $ 1,500

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