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Business, 15.04.2020 04:12 JebKush3161
Crane Company uses the percentage-of-receivables basis to record bad debt expense and concludes that 4% of accounts receivable will become uncollectible. Accounts receivable are $422,100 at the end of the year, and the allowance for doubtful accounts has a credit balance of $2,682.
Prepare the adjusting journal entry to record bad debt expense for the year.
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Crane Company uses the percentage-of-receivables basis to record bad debt expense and concludes that...
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