Current Attempt in Progress Answer the following independent questions. (a) Swifty, Inc. had net sales...
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Accounting
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Answer the following independent questions.
(a)
Swifty, Inc. had net sales in 2020 of $1,506,100. At December 31, 2020, before adjusting entries, the balances in selected accounts were Accounts Receivable $254,000 debit, and Allowance for Doubtful Accounts $1,816 debit. Assume that 11% of accounts receivable will prove to be uncollectible. Prepare the entry to record bad debt expense. (If no entry is required, select "No Entry" for the account titles and enter 0 for the amounts. Credit account titles are automatically indented when the amount is entered. Do not indent manually.)
Date
Account Titles and Explanation
Debit
Credit
Dec. 31, 2020
enter an account title to record bad debt expense on December 31
enter a debit amount
enter a credit amount
enter an account title to record bad debt expense on December 31
enter a debit amount
enter a credit amount
Answer & Explanation
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