Portillo Company's ledger at the end of the current year shows Accounts Receivable of $150,000
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Business, 19.05.2020 22:06 toricepeda82
Portillo Company's ledger at the end of the current year shows Accounts Receivable of $150,000
Instructions
If Allowance for Doubtful Accounts has a credit balance of $3,000 in the trial balance and
bad debts are expected to be 10% of accounts receivable, joumalize the adjusting entr
for the end of the period.
Bad debt 15,000
Doubtful Accounts 15,000
b
If Allowance for Doubtful Accounts has a debit balance of $3,000 in the trial balance and ba
debts are expected to be 10% of accounts receivable, journalize the adjusting entry for the
end of the period.
Answers: 2
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