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1) Hahn Company uses the percentage of sales method for recording bad debts expense. For the year, cash sales are $300,000 and credit sales are $1,200,000. Management estimates that 1% is the sales percentage to use. What adjusting entry will Hahn Company make to record the bad debts expense? A. Bad Debts Expense ................ ................ $15,000 Allowances for Doubtful Accounts ................ ................ $15,000 B. Bad Debts Expense ................ ...
Weegy: Debit - Bad Debts Expense $12,000 Credit - Allowances for Doubtful Accounts $12,000- is the adjusting entry that Hahn Company will make to record the bad debts [ expense. ] User: ACC/291 Principles of Accounting II Final Exam Progress: (0/30) 1) Hahn Company uses the percentage of sales method for recording bad debts expense. For the year, cash sales are $300,000 and credit sales are $1,200,000. Management estimates that ... (More)
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