Infer the journal entries that explain the activity in, Finance Basics

Infer the journal entries that explain the activity in

The 2012 annual report of Johnson Services reveals the following information. The dollar amounts are end-of-year balances.

Johnson estimates bad debts each year at 2 percent of credit sales.

a. Compute the actual amount of write-offs during 2012.

b. Infer the journal entries that explain the activity in accounts receivable and the related allowance account during 2012.

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Finance Basics: Infer the journal entries that explain the activity in

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Finance Basics: Infer the journal entries that explain the activity in

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