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Accounting Notes - Journal entry to write off a bad account...

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Journal entry to write off a bad account: Dr. Allowance for Doubtful Accounts………………………………………………………..2390 cr Accounts Recievable…………………………………………………………………………………2390 Calculating Interest: Interest (I) = Principal (P) x Interest Rate (R) x Time (T) *time will (normally) be the number of months/12 Receivable Turnover Ratio: Net Sales Revenue (for the current year) Average Net Receivables (Beginning Net Receivables + Ending Net Receivables / 2)
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