Analyze nestle csr initiative plan focuses on society issues
This is a CSR project, and choose to nestle as our company Note: Please give answer on mentioned words (must add intext citation) and required
Prepare the adjusting entry needed in corotel books
Assignment Instructions
Assignment ID: FG132618441
On December 31, 2020, Corotel Company’s year-end, the unadjusted trial balance included the following items:
Account Debit Credit
Accounts receivable $2,130,000
Allowance for doubtful accounts 36,000
Sales ($3,120,000 cash sales) $12,480,000
Required:
Problem 1. Prepare the adjusting entry needed in Corotel’s books to recognize bad debts under each of the following independent assumptions.
- Bad debts are estimated to be 2% of credit sales.
- An analysis suggests that 5% of outstanding accounts receivable on December 31, 2020, will become uncollectible.
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