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Total credit sales
$2,557,000
Accounts receivable at December 31
886,000
Bad debts written off
31,200
What amount of bad debt expense will Mingenback Company report if it uses the direct write-off method of accounting for bad debts?
Assume that Mingenback Company estimates its bad debt expense to be 3% of credit sales. What amount of bad debt expense will Mingenback record if it has an Allowance for Doubtful Accounts credit balance of $3,500?
Assume that Mingenback Company estimates its bad debt expense based on 5% of accounts receivable. What amount of bad debt expense will Mingenback record if it has an Allowance for Doubtful Accounts credit balance of $2,300?
Assume that Mingenback Company estimates its bad debt expense based on 5% of accounts receivable. What amount of bad debt expense will Mingenback record if it has an Allowance for Doubtful Accounts debit balance of $2,300?
Prepare the journal entry to record the issuance of the bonds.(For multiple debit/creditentries, list amounts from largest to smallest eg 10, 5, 3,2.)
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