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The trial balance before adjustment of Grouper Inc. shows the following balances.     Dr.   Cr. Accounts Receivable   $102,600     Allowance for Doubtful Accounts   1,995     Sales Revenue (all on credit)       $775,200 Give the entry for estimated bad debts assuming that the allowance is to provide for doubtful accounts on the basis of (a) 4% of gross accounts receivable and (b) 5% of gross accounts receivable and Allowance for Doubtful Accounts has a $1,905 credit balance. (If no entry is required, select "No Entry" for the account titles and enter 0 for the amounts. Credit account titles are automatically indented when the amount is entered. Do not indent manually.)

The trial balance before adjustment of Grouper Inc. shows the following balances.     Dr.   Cr. Accounts Receivable   $102,600     Allowance for Doubtful Accounts   1,995     Sales Revenue (all on credit)       $775,200 Give the entry for estimated bad debts assuming that the allowance is to provide for doubtful accounts on the basis of (a) 4% of gross accounts receivable and (b) 5% of gross accounts receivable and Allowance for Doubtful Accounts has a $1,905 credit balance. (If no entry is required, select "No Entry" for the account titles and enter 0 for the amounts. Credit account titles are automatically indented when the amount is entered. Do not indent manually.)

College Accounting, Chapters 1-27
College Accounting, Chapters 1-27
23rd Edition
ISBN:9781337794756
Author:HEINTZ, James A.
Publisher:HEINTZ, James A.
Chapter16: Accounting For Accounts Receivable
Section: Chapter Questions
Problem 5SEB: UNCOLLECTIBLE ACCOUNTSPERCENTAGE OF SALES AND PERCENTAGE OF RECEIVABLES At the end of the current...
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The trial balance before adjustment of Grouper Inc. shows the following balances.

   
Dr.
  
Cr.
Accounts Receivable   $102,600    
Allowance for Doubtful Accounts   1,995    
Sales Revenue (all on credit)       $775,200


Give the entry for estimated bad debts assuming that the allowance is to provide for doubtful accounts on the basis of (a) 4% of gross accounts receivable and (b) 5% of gross accounts receivable and Allowance for Doubtful Accounts has a $1,905 credit balance. (If no entry is required, select "No Entry" for the account titles and enter 0 for the amounts. Credit account titles are automatically indented when the amount is entered. Do not indent manually.)

No.
Account Titles and Explanation
Debit
Credit
(a)
?
?
?
 
allowance for doubtful accounts
?
?
(b)
?
?
 ?
 
?
?
 ?
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