Solved: Bad debts are estimated to be 5 of accounts receivables, Accounting Basics

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Bad debts are estimated to be 5 of accounts receivables

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.

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Accounting Basics: Bad debts are estimated to be 5 of accounts receivables

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