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Accounting for uncollectible accounts using the allowance method (aging-of-receivables) and reporting receivables on the balance sheet
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Learning Objectives 1,3 P9-30A Accounting for uncollectible accounts using the allowance method (percent-of-sales) and reporting receivables on the balance sheet Delta Watches completed the following selected transactions during 2018 and 2019; 2. Net AR $119,800 2018 Estimated that bad debts expense for the year was 2% of credit sales of $450,000 and recorded that amount as expense. The company uses the allowance method Dec. 31 31 2019 Jan. 17 Made the closing entry for bad debts expense Sold merchandise inventory...