Question:
The trial balance before adjustment for Martinez Company shows the following balances.
![](https://free-answer.com/wp-content/uploads/2020/12/1607754841390.png)
Using the data above, give the journal entries required to record each of the following cases. (Each situation is independent.)
![](https://free-answer.com/wp-content/uploads/2020/12/1607754895555.png)
Answer:
![](https://free-answer.com/wp-content/uploads/2020/12/1607754945772.png)
Working Notes;
For case (3.) Amount of allowance to be ($84700 x 7 / 100) = $5929 + $2700 debit balance = $8629
For case (4) Allowance to be made for ($6174 – $1041) = $5133
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