Business, 25.03.2020 05:27 RiddleRider

Gonzalez Company has been in business for several years. At the end of the current year, the ledger shows:

Accounts Receivable $327,400 Dr.
Sales Revenue 2,136,500 Cr.
Allowance for Doubtful Accounts 7,900 Cr.

Bad debts are estimated to be 5% of accounts receivable. Prepare the entry to adjust Allowance for Doubtful Accounts.

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Gonzalez Company has been in business for several years. At the end of the current year, the ledger...