Business, 19.03.2020 21:24 claaay1

Providing for Doubtful Accounts At the end of the current year, the accounts receivable account has a debit balance of $1,162,000 and sales for the year total $13,170,000. The allowance account before adjustment has a debit balance of $15,700. Bad debt expense is estimated at 3/4 of 1% of sales. The allowance account before adjustment has a debit balance of $15,700. An aging of the accounts in the customer ledger indicates estimated doubtful accounts of $50,200. The allowance account before adjustment has a credit balance of $7,600. Bad debt expense is estimated at 1/4 of 1% of sales. The allowance account before adjustment has a credit balance of $7,600. An aging of the accounts in the customer ledger indicates estimated doubtful accounts of $63,100. Determine the amount of the adjusting entry to provide for doubtful accounts under each of the assumptions (a through d) listed above.

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Providing for Doubtful Accounts At the end of the current year, the accounts receivable account has...