1 Record Bad Debts Expense assuming uncollectibles are estimated to be 4% of credit sales....
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Accounting
1
Record Bad Debts Expense assuming uncollectibles are estimated to be 4% of credit sales.
2
Record Bad Debts Expense assuming uncollectibles are estimated to be 2% of total sales.
3
Record Bad Debts Expense assuming uncollectibles are estimated to be 7% of year-end accounts receivable.
At December 31, Folgeys Coffee Company reports the following results for its calendar year. CashsalesCreditsales$913,000313,000 Its year-end unadjusted trial balance includes the following items. AccountsreceivableAllowancefordoubtfulaccounts$138,000debit6,300deblt Prepare the adjusting entry to record bad debts expense assuming uncollectibles are estimated to be (1) 4% of credit sales, (2) 2% of total sales and (3) 7% of year-end accounts receivable
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