Shamrock Company reports the following financial information before adjustments. Dr. Cr. Accounts Receivable $154,900 Allowance for Doubtful Accounts $3,440 Sales Revenue (all on credit) 805,100 Sales Returns and Allowances 52,370 Prepare the journal entry to record bad debt expense assuming Shamrock Company estimates bad debts at (a) 4% of accounts receivable and (b) 4% of accounts receivable but Allowance for Doubtful Accounts had a $1,580 debit balance.
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Home » Business » Shamrock Company reports the following financial information before adjustments. Dr. Cr. Accounts Receivable $154,900 Allowance for Doubtful Accounts $3,440 Sales Revenue (all on credit) 805,100 Sales Returns and Allowances 52,370 Prepare the