Accounts Receivable=$154,900 Allowance for Doubtful Accounts =$3,440 Sales Revenue (all on credit) =805,100 Sales Returns...
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Accounting
Accounts Receivable=$154,900
Allowance for Doubtful Accounts =$3,440
Sales Revenue (all on credit) =805,100
Sales Returns and Allowances =52,370
Prepare the journal entry to record bad debt expense assuming Sheridan Company estimates bad debts at (a) 4% of accounts receivable and (b) 4% of accounts receivable but Allowance for Doubtful Accounts had a $1,580 debit balance.
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