(Answered) Question - super credit corporation has an allowance

Finance

Question - Super credit Corporation has an allowance account with a credit balance of $2,000. Prepare the entry to recognize bad debt expense if:

(a) Bad debts are estimated at 4% of credit sales of $80,000.

(b) Bad debts are estimated at 4% of accounts receivable of $90,000.

Show what the allowance account would look like after these entries.

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