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Prepare the journal entry to record bad debt expense

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Reference no: EM132145339

Question - Bridgeport Company reports the following financial information before adjustments.

Dr. Cr.

Accounts Receivable $169,500

Allowance for Doubtful Accounts $2,060

Sales

Revenue (all on credit) 841,800

Sales Returns and Allowances 54,450

Prepare the journal entry to record bad debt expense assuming Bridgeport Company estimates bad debts at (a) 4% of accounts receivable and (b) 4% of accounts receivable but Allowance for Doubtful Accounts had a $1,500 debit balance.

Reference no: EM132145339

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