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problem: The trial balance before adjustment of Reba Mc Intrye Inc. shows the following balances.    

 

  Dr.

  Cr.

Accounts Receivable

 

$90,000

Allowance for Doubtful Accounts

1,750

 

Sales (all on credit)

 

$680,000

Instructions                                                   

Make the entry for estimated bad debts suppose that the allowance is to provide for doubtful accounts on the basis of (1st) 4 percent gross accounts receivable and (2nd) 1 percent of net sales.

 

 

 

Cost Accounting, Accounting

  • Category:- Cost Accounting
  • Reference No.:- M922418

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