The trial balance before adjustment of Crane Inc. shows the following balances. Accounts Receivable Allowance for...
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The trial balance before adjustment of Crane Inc. shows the following balances. Accounts Receivable Allowance for Doubtful Accounts Sales Revenue (all on credit) Dr. $75.600 1,470 No. Account Titles and Explanation (a) (b) Cr. Give the entry for estimated bad debts assuming that the allowance is to provide for doubtful accounts on the basis of (a) 4% of gross accounts receivable and (b) 5 % of gross accounts receivable and Allowance for Doubtful Accounts has a $1.410 credit balance. (If no entry is required, select "No Entry" for the account titles and enter O for the amounts. Credit account titles are automatically indented when the amount is entered. Do not indent manually.) $571,200 Debit Credit The trial balance before adjustment of Crane Inc. shows the following balances. Accounts Receivable Allowance for Doubtful Accounts Sales Revenue (all on credit) Dr. $75.600 1,470 No. Account Titles and Explanation (a) (b) Cr. Give the entry for estimated bad debts assuming that the allowance is to provide for doubtful accounts on the basis of (a) 4% of gross accounts receivable and (b) 5 % of gross accounts receivable and Allowance for Doubtful Accounts has a $1.410 credit balance. (If no entry is required, select "No Entry" for the account titles and enter O for the amounts. Credit account titles are automatically indented when the amount is entered. Do not indent manually.) $571,200 Debit Credit
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ANSWER No a Account Titles and Explanation No b Bad De... 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,
Posted Date:
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