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This companys fiscal year is the calendar year. For the following data, it is advisable to set up a “T”- account for each it

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Answer #1

Missing adjusting entry

Bad debt expense = Beginning balance-written off-Ending balance

= 50000-30000-50000

Bad debt expense = 30000

Date account and explanation Debit Credit
bad debt expense 30000
Allowance for doubtful accounts 30000
(To record bad debt expense)
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