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question exercise 8 4 the ledger of sheffield corp at the end of the current year sh 4284983

Question

Exercise 8-4 The ledger of Sheffield Corp. at the end of the current year shows Accounts Receivable $80,300; Credit Sales $769,390; and Sales Returns and Allowances $41,700. (a) If Sheffield Corp. uses the direct write-off method to account for uncollectible accounts, journalize the adjusting entry at (b) If Allowance for Doubtful Accounts has a credit balance of $1,112 in the trial balance, journalize the adjusting entry at December (c) If Allowance for Doubtful Accounts has a debit balance of $450 in the trial balance, journalize the adjusting entry at December December 31, assuming Sheffield Corp. determines that Matisse's $820 balance is uncollectible. 31, assuming bad debts are expected to be 11% of accounts receivable. 31, assuming bad debts are expected to be 9% of accounts receivable. (Credit account titles are automatically indented when amount is entered. Do not indent manually.) No. Account Titles and Explanation Debit Credit fc:5

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