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Business, 30.03.2020 19:37 radusevciuc7719
Determining Financial Statement Effects of Write-Offs and Bad Debt Expense Using the Allowance Method
Using the following categories, indicate the effects of the following transactions. Indicate the accounts affected and the amounts. (Enter any decreases to Assets, Liabilities, or Stockholders Equity with a minus sign.)
During the period, customer balances are written off in the amount of $10,000.
At the end of the period, bad debt expense is estimated to be $8,000.
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