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Business, 08.04.2020 02:35 zanedog2018

The ledger of Marin Inc. at the end of the current year shows Accounts Receivable $82,000; Credit Sales $840,000; and Sales Returns and Allowances $49,000. (a) If Marin uses the direct write-off method to account for uncollectible accounts, journalize the adjusting entry at December 31, assuming Marin determines that Matisse’s $900 balance is uncollectible. (b) If Allowance for Doubtful Accounts has a credit balance of $1,200 in the trial balance, journalize the adjusting entry at December 31, assuming bad debts are expected to be 10% of accounts receivable. (c) If Allowance for Doubtful Accounts has a debit balance of $500 in the trial balance, journalize the adjusting entry at December 31, assuming bad debts are expected to be 8% of accounts receivable.

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The ledger of Marin Inc. at the end of the current year shows Accounts Receivable $82,000; Credit Sa...
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