Acc291 Financial Accounting: DO IT! 8-1 Etienne Company has been in business several years
Acc291 Financial Accounting DO IT! 8-1 Etienne Company has been in business several years. At the end of the current year, the ledger shows: Accounts Receivable 310,000 Dr. Sales 2,200,000 Cr. Allowance for Doubtful Accounts 6,100 Cr. Bad debts are estimated to be 7% of receivables. Prepare the entry to adjust the Allowance for Doubtful Accounts.
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