HADM_121_Chapter6_Assignment 1 Final

HADM_121_Chapter6_Assignment 1 Final - 5000 Allowance for...

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September 30, 2007 E6-7 (Chapter 6) The Gross Profit Percentage ratio compares this years Gross Profit Percentage against that of last years Gross Profit Percentage. Both Decker’s and WWW have relatively the same Gross Profit Percentage. This could be explained by the fact that their business models are very similar.
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September 30, 2007 E6-9 E6-14 A Account (1) Bad Debt Expense (E+ SE-) 1500 Allowance for Doubtful Accounts (XA+ A-) 1500 Account (2) Bad Debt Expense (E+ SE-)
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Unformatted text preview: 5000 Allowance for Doubtful Accounts (XA+ A-) 5000 Account (3) Bad Debt Expense (E+ SE-) 7800 Allowance for Doubtful Accounts (XA+ A-) 7800 B All accounts should be incorporated under "Selling" expenses in the income statement The accounts decrease net income and stockholders equity Accounts Receivable could not be credited in the journal entry because there is no way to know which customers accounts receivable are involved. E6-16 E6-25...
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HADM_121_Chapter6_Assignment 1 Final - 5000 Allowance for...

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