Business, 14.02.2020 06:57 sakinahunt

Using the allowance method of estimating bad debt, with the percent of sales, determine
the amount to be added to “Allowance for Doubtful Account”, with the following
information:
Credit balance of $5,500 in Allowance for Doubtful Accounts just prior to adjustment.
Uncollectible receivables are estimated at 2% of credit sales, which totaled $7,000,000 for
the year. (10 points)
a. Calculate the amount of bad debt?
b. What will the balance be in the allowance account?
c. Please journalize the year end adjusting entry

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Using the allowance method of estimating bad debt, with the percent of sales, determine
the am...

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