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Calculate the bad debt journal entry using both the income

Problem

Better Products Inc. Had $1,00,000 in total sales for the year and a $300,000 accounts receivable balance. Better Products inc. establishes a bad debt estimate of 5%. Calculate the bad debt journal entry using both the income summary and balance sheet approaches with explanations.

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Accounting Basics: Calculate the bad debt journal entry using both the income

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Accounting Basics: Calculate the bad debt journal entry using both the income

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