E6-9 (Algo) Recording Bad Debt Expense Estimates and Write-Offs Using the Percentage of Credit Sales Method LO6-2 During

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E6 9 Algo Recording Bad Debt Expense Estimates And Write Offs Using The Percentage Of Credit Sales Method Lo6 2 During 1 (29.33 KiB) Viewed 39 times

E6-9 (Algo) Recording Bad Debt Expense Estimates and Write-Offs Using the Percentage of Credit Sales Method LO6-2 During the current year, Witz Electric, Inc., recorded credit sales of $720,000. Based on prior experience, it estimates a 3 percent bad debt rate on credit sales. Required: Prepare journal entries for each transaction: (If no entry is required for a transaction/event, select "No journal entry required" in the first account field.) a. On September 29 of the current year, an account receivable for $1,900 from March of the current year was determined to be uncollectible and was written off. b. The appropriate bad debt expense adjustment was recorded for the current year. View transaction list Journal entry worksheet 2 Record the entry for bad debt expense. Note: Enter debits before credits Transaction General Journal