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Business, 20.12.2019 02:31 erinrae

Farr co. elects to use the percentage-of-sales basis in 2017 to record bad debt expense. it estimates that 2% of net credit sales will become uncollectible. sales revenues are $801,000 for 2017, sales returns and allowances are $40,100, and the allowance for doubtful accounts has a credit balance of $8,900. prepare the adjusting entry to record bad debt expense in 2017.

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Farr co. elects to use the percentage-of-sales basis in 2017 to record bad debt expense. it estimate...

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