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Prepare adjusting journal entry to adjust the ending balance

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Question - At the beginning of the year, a company had an allowance for doubtful accounts of $15,000. During the year, it recorded write offs of customer accounts for $3,000. At the end of the year, the company estimated its allowance for doubtful accounts to be $20,000. Prepare the adjusting journal entry to adjust the ending balance to the $20,000 and use T-accounts to assist you.

Reference no: EM131693957

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