Solution-Journalize the recording of the bad debts expense

Journalize the recording of the bad debts expense

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Reference no: EM132953319

Question - On December 31, 2021, Balloon Buddies had a balance in Accounts Receivable of $39,000. Net credit sales for the year were $334,000. The Allowance for Doubtful Accounts has a credit balance of $700. Journalize the recording of the bad debts expense under the income statement approach if 2.5% of net credit sales is deemed uncollectible.

Reference no: EM132953319

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Journalize the recording of the bad debts expense

Reference no: EM132953319

Reference no: EM132953319

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