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On January 1, 2010, the balance in Kubera co.'s Allowance for Bad Debts account was$9720. during the year, a total of $23900 of delinquent account receivable was written off as bad debts, the balance in the allowance for bad debts account at December 31, 2010 was $10480
a) what was the total amount of bad debts expense recognized during the year? Make a T-account for the Allowance for Bad Debts account.
b) As a result of a comprehensive analysis, it is determined that the December 31, 2010 balance of Allowance for Bad Debts should be $23,200. Show in the horizontal model or in journal entry format the adjustment required.
At May 5, 2011, MacDougal's common stock was quoted at $34 per share, and the patent had a carrying value of $55,000 on Masset's books. MacDougal should record the patent at
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At the end of 2011, Tatum Co. has accounts receivable of $700,000 and an allowance for doubtful accounts of $28,000. On January 24, 2012, it is learned that the company's re
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Prepare the necessary journal entries on the books of Jayhawk Carpet Company to record the following transactions, assuming a perpetual inventory system (you may omit explan
Kyle Benson is the CEO of Macarty's Electronics. Benson is an expert engineer but a novice in accounting. Write a letter to Kyle Benson that explains the bases for comparison
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