Kingbird Company reports the following financial information before adjustments. Prepare the journal entry to record...
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Accounting
Kingbird Company reports the following financial information before adjustments. Prepare the journal entry to record bad debt expense assuming Kingbird Company estimates bad debts at (a) 4% of accour receivable and (b) 4% of accounts receivable but Allowance for Doubtful Accounts had a $1,420 debit balance. (If no entry select "No Entry" for the occount titles and enter O for the amounts. Credit occount titles are automatically indented when the amo entered. Do not indent manually. List all debit entries before credit entries.) Prepare the journal entry to record bad debt expense assuming Kingbird Company estimates bad debts at (a) 4% of accounts receivable and (b) 4% of accounts receivable but Allowance for Doubtful Accounts had a $1,420 debit balance. (If no entry is required, select "No Entry" for the account titles and enter O for the amounts. Credit account titles are automatically indented when the amount is entered. Do not indent manually. List all debit entries before credit entries.)
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