3. During its first year of operations, World Class Sport Shoes earned revenue of $388,...
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Accounting
3. During its first year of operations, World Class Sport Shoes earned revenue of $388, 000 on account. Industry experience suggests that bad debts will amount to 4% of revenues. At December 31, 2012, accounts receivable total $35,000. The company uses the allowance method to account for uncollectible.
Requirements R1. Journalize World Class
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