1. Prepare the adjustment to allowance for doubtful accounts based on the information below. The company's...

1. Prepare the adjustment to allowance for doubtful accounts based on the information below. The company's accountant estimates bad debt to be 3%

Accounts receivable debit 205,000

Allowance for doubtful accounts debit 2,500

Sales ( 405,000 cash sales) credit 1,685,000

Expert Solution

Adjusting entry

Date	General Journal	Debit	Credit
	Bad debt expense (205000*3%+2500)	8650
	Allowance for doubtful accounts		8650

ekkarill92 answered 2 years ago

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