Homework Answers
1.
| Date | General Journal | Debit | Credit |
| Dec 31 | Bad debts expense[($114,000 * 1.50%) - $750] | $960 | |
| Allowance for doubtful accounts | $960 |
2. Amount used in the year-end adjusting entry = ($114,000 * 1.50%) + $1,050 = $2,760
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