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question section iii at december 31 2014 bitco reported the following balance of the 4291085


Section III At December 31, 2014, BITCO reported the following: Balance of the Allowance for Doubtful Accounts at January 1, 2014, the beginning of the year was Total sales for the year ended December 31, 2014: $780,000, includes s160.000 in cash sales. Accounts receivable balance at Dec. 31, 2014: $190,000. Bad debts written off during the year 2014: $6,800. Prepare the necessary adjusting journal entries to record the bad debt expense assuming BITco's bad debts are estimated based on the following two INDEPENDENT scenarios: (a) 1.5% of credit sales (b) 5% of accounts receivable Account/Descri Debit Credit (b) Debit Credit A Account/Description


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