Business, 30.11.2020 17:40 homeowkrkk

The trial balance before adjustment of Concord Company reports the following balances: Dr. Cr.
Accounts receivable $265,000
Allowance for doubtful accounts $2,480
Sales (all on credit) 1,000,000
Sales returns and allowances 48,000

Required:
Prepare the entry for estimated bad debts assuming that doubtful accounts are estimated to be 11% of gross accounts receivable.

Answers: 3

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The trial balance before adjustment of Concord Company reports the following balances: Dr. Cr.