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Can Add the steps (formulas)? please. 2. Allowance for Doubtful Accounts The ledger...

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Can Add the steps (formulas)? please.

2. Allowance for Doubtful Accounts The ledger of the Ramirez Company at the end of the current year (Dec 31, 20x1), shows Accounts Receivable of $200,000. Instructions (a) If Allowance for Doubtful Accounts has a credit balance of $3,000 in the trial balance and bad debts are expected to be 8% of accounts receivable, journalize the adjusting entry for the end of the period. (Show all calculations.) (b) If Allowance for Doubtful Accounts has a debit balance of $3,000 in the trial balance and bad debts are expected to be 8% of accounts receivable, journalize the adjusting entry for the end of the period. (Show all calculations.)

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