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Prepare the entry to adjust allowance for doubtful accounts

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Question - Gonzalez Company has been in business for several years. At the end of the current year, the ledger shows:

Accounts Receivable$ 310,000 Dr. Sales Revenue2,200,000 Cr. Allowance for Doubtful Accounts6,100 Cr.

Bad debts are estimated to be 5% of accounts receivables. Prepare the entry to adjust Allowance for Doubtful Accounts.

Reference no: EM131645150

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