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During 2014 Sun Electronics Incorporated recorded credit sales of $5000000 Based on prior experience it estimates a 2 percent bad debt rate on credit sale Required Prepare journal entries for

During 2014, Sun Electronics, Incorporated, recorded credit sales of $5,000,000. Based on prior experience, it estimates a 2 percent bad debt rate on credit sales.Required:Prepare journal entries for each transaction:a. The appropriate bad debt expense adjustment was recorded for the year 2014.b. On December 31, 2014, an account receivable for $98,000 from a prior year was determined to be uncollectible and was written off.

May 09 2020 View more View Less

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