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(a) The lediger of Sheffield Corp at the end of the current year shows Accounts...

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Accounting

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(a) The lediger of Sheffield Corp at the end of the current year shows Accounts Receivable $68,000, Credit Sales 5823,000 and Sales Retums and Allowances $30.000 Prepare Journal entries for each separate scenario below. Stetheld Corp uses the direct write-ott method to account for uncollectible accounts, ournalize the chuting entry at December 31, assuming Sheffield Corp. determines that Matisse's $1.200 balance is uncollectible Allowance for Doubtful Accounts has a credit balance of 5900 in the trial balance, journalize the adjusting entry at December 31, assuming bad debts are expected to be 12% of accounts receivable Allowance for Doubtful Accounts has a debit balance of 5492 in the trial balance, journalize the adjustine entry at December 31. asumine bad debits are expected to be 11% of accounts receivable thl c) (Credit account titles are automatically indented when amount is entered. Do not indent manually) No. Account Titles and Explanation Debit Credit (a) id

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