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Question - Ilene Wright Political Consulting Co. has a $300,000 balance in Accounts Receivable, and a $2,000 debit balance in Allowance for Doubtful Accounts. Credit sales for the period totaled $1,800,000. What is the amount of the bad debt adjusting entry if Ilene Wright Political Consulting Co. uses a percentage of receivables basis (at 10%).
Kevin is a candidate for an undergraduate degree at a local university. During 2010, he was granted a fellowship that provided the following: What amount can Kevin exclude fr
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