| | |Current |Current |Owners |Net |
| | |Assets | Liabilities | Equity |Profit |
|(a) | preserve estimated bad debts in the|Allowance for Bad | | |Bad Debts outgo |
| |amount of $750. |Debts | | |750 |
| | |750 | | | |
|(b) |Wrote off an overdue account |Accounts due | | |
| |receivable of $480.
|480 | | |
| | |Allowance for Doubtful| | |
| | |Accounts | |(Net realisable value |
| | |+480 | |of accounts receivable |
| | | | |is not affected.) |
|(c) | enter $4800 of sales, 80% of |Cash | | |Sales |
| |which were on account. |+960 | | |+4 800 |
| | |Accounts | | | |
| | |Receivable |...If you want to get a full essay, order it on our website: Orderessay
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