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Dryer of performed the credits of 331,000 Industry experience we bota el motore credit A December 31, 2018 ore 544900
Dryer of performed the credits of 331,000 Industry experience we bota el motore credit A December 31, 2018 ore 544900. The company Hequenant. Jamie Woord Durs Expence ng pera more, there. Select the explanation on the time of the pumaya Date Access and Eaptation Baba 9.30
1,000. Industry experience suggests that bad debts will amount to 3% of net credit sales. At Decemt cent-of-sales method. (Record debits first, then credits. Select the explanation on the last line of the jo Debit Credit 9,330 9,330 * Requirements - X ta 1. Journalize Fall Wine Tour's Bad Debts Expense using the percent-of-sales method. 2. Show how to report accounts receivable on the balance sheet at December 31, 2018
Expert Solution
1. Journal entry.
| Date | Accounts | Debit | Credit |
| Dec 31 | Bad debt expense | $ 9,330 | |
| To allowance for doubtful accounts | $ 9,330 |
Bad debt expense = 311,000 x 3%
Bad debt expense = $ 9,330.
2.
| Current assets: | ||
| Accounts receivable | $ 44,000 | |
| Less: Allowance for doubtful accounts | ($ 9,330) | |
| Net accounts receivable | $ 34,670 |
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