Vaughn Company uses the percentage of receivables method for recording bad debt expense. The accounts...
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Vaughn Company uses the percentage of receivables method for recording bad debt expense. The accounts receivable balance is $613000 and credit sales are $2660000. Management estimates that 4% of accounts receivable will be uncollectible. What adjusting entry will Vaughn Company make to record bad debt expense if the Allowance for Doubtful Accounts has a $5500 credit balance before adjustment? Bad Debt Expense Allowance for Doubtful Accounts Bad Debt Expense Accounts Receivable Bad Debt Expense Accounts Receivable Bad Debt Expense Allowance for Doubtful Accounts 19020 24520 19020 24520 19020 24520 19020 24520
Vaughn Company uses the percentage of receivables method for recording bad debt expense. The accounts receivable balance is $613000 and credit sales are $2660000 Management estimates that 4% of accounts receivable will be uncollectible. What adjusting entry will Vaughn Company make to record bad debt expense if the Alowance for Doubtful Accounts has a $5500 credit balance before adjustment? Bad Debt Expense 19020 Allowance for Doubtful 19020 Accounts
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