AFM123 Study Guide - Kraft Foods Inc, Trial Balance, Accounts Receivable

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Required: assume kraft uses of 1 percent of sales to estimate its bad debt expense for the year. Prepare the adjusting journal entry required for the year, assuming no bad debt expense has been recorded yet. dr bad debt expense (+e,-se) cr allowance for doubtful accounts (+xa,-a) ( = ,201 x 0. 5%) 211: if one of kraft"s main customers declared bankruptcy in 2012, what journal entry would be used to write off its balance? dr allowance for doubtful accounts (-xa, +a) cr accounts receivable (-a) 15: show the t-account for afda resulting from the information in #1 and #2. End. balance: how would accounts receivable be presented on kraft"s year-end balance. On december 1, 2013, the balance in xyz inc. "s allowance for doubtful accounts is a credit of . Xyz inc. has prepared the following aging of accounts receivable analysis for the month ended december 31, 2013:

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