Business, 04.11.2021 14:30 valdezavery1373

At the end of the current year, the accounts receivable account has a debit balance of $666,000 and sales for the year total $7,550,000. a. The allowance account before adjustment has a debit balance of $9,000. Bad debt expense is estimated at 1/2 of 1% of sales.
b. The allowance account before adjustment has a debit balance of $9,000. An aging of the accounts in the customer ledger indicates estimated doubtful accounts of $28,800.
c. The allowance account before adjustment has a credit balance of $9,000. Bad debt expense is estimated at 3/4 of 1% of sales.
d. The allowance account before adjustment has a credit balance of $9,000. An aging of the accounts in the customer ledger indicates estimated doubtful accounts of $74,700.

Required:
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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At the end of the current year, the accounts receivable account has a debit balance of $666,000 and...

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