The trial balance before adjustment of estefan inc shows, Ask an Expert

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The trial balance before adjustment of Estefan Inc. shows the following balances. Dr. Cr.

Accounts Receivable Dr. $80,000

Allowance for Doubtful Accounts Dr. 1,750

Sales, Net Revenue (all on credit) Cr. $580,000

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) 1% of net sales.

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Accounting Basics, Accounting

Category:- Accounting Basics
Reference No.:- M9797024

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