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At December 31, Folgeys Coffee Company reports the following results for its calendar year.
Cash sales . . . . . . . . . . . . $ 900,000Credit sales . . . . . . . . . . . 300,000Its year end unadjusted trial balance includes the following items.Accounts receivable . . . . . . . . . . . . . . . . . . . . . . $ 125,000 debitAllowance for doubtful accounts . . . . . . . . . . . . 5,000 debita. Prepare the adjusting entry to record Bad Debts Expense assuming uncollectibles are estimated to be 1.5% of credit sales.
b. Prepare the adjusting entry to record Bad Debts Expense assuming uncollectibles are estimated to be 0.5% of total sales.
c. Prepare the adjusting entry to record Bad Debts Expense assuming uncollectibles are estimated to be 6% of year end accounts receivable.
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What do you think are some techniques a hospitality company could use to increase their network security? What do you think the consequences and impacts of a poor security policy or security plan have on a company?
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