Prepare the adjusting entry to record bad debt expense in 2014.


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Prepare the adjusting entry to record bad debt expense in 2014. 1 answer below ยป Farr Co. elects to use the percentage-of-sales basis in 2014 to record bad debt expense. It estimates that 2% of net credit sales will become uncollectible. Sales revenues are $800,000 for 2014, sales returns and allowances are $40,000, and the allowance for doubtful accounts has a credit balance of $9,000. Prepare the adjusting entry to record bad debt expense in 2014. Jun 11 2014 04:08 PM

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