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eBook Show Me How Calculator Print Item Providing for Doubtful Accounts At the end of the current year, the accounts receivab
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Answer #1
a.
Amount of adjusting entry = Sales * 1% * 1/2 = 10990000 * 1% * 1/2 54950
b.
Amount of adjusting entry = Estimated doubtful accounts - Credit balance of allowance account before adjustment = 41900 - 13100 28800
c.
Amount of adjusting entry = Sales * 1% * 3/4 = 10990000 * 1% * 3/4 82425
d.
Amount of adjusting entry = Estimated doubtful accounts + Debit balance of allowance account before adjustment = 56400 + 6800 63200
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