Homework Answers
Journal entry
Bad debts expense debit $5300
Allowance for doubtful debts credit $5300
Bad debts expense = 6% of Accounts receivable which is $120000 * 6% = 7200
Existing balance in allowance for doubtful debts = 1900
additional to be transferred to allowance for doubtful debts = 7200-1900 = 5300
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19)
20)
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19)
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