During the current year, Witz Electric, Inc., recorded credit sales of $900,000. Based on prior experience, it estimates a 3 percent bad debt rate on credit sales. Required: Prepare journal entries for each transaction: (If no entry is required for a transaction/event, select "No journal entry required" in the first account field.) a. On September 29 of the current year, an account receivable for $2,700 from March of the current year was determined to be uncollectible and was written off. b. The appropriate bad debt expense adjustment was recorded for the current year.
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Question 55 ted, a supervisor for jack's pool supplies, was accused of stealing pool supplies and selling them to friends and relatives at reduced prices. given ted's earlier track record, he was not fired immediately. the authorities decided to give him an administrative leave, without pay, until the investigation was complete. in view of the given information, it would be most appropriate to say that ted was: demoted. discharged. suspended. dismissed.
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During the current year, Witz Electric, Inc., recorded credit sales of $900,000. Based on prior expe...
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