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Prepare the journal entry for the year-end adjustment to Allowance for
Doubtful Accounts balance as of December 31, 2014.
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ACC 537 Week 2 Textbook Problems P10 2 Lobo
Corporation (Team Paper and Solution)
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P10-2 (Classification of Acquisition Costs) Selected accounts included
in the property, plant, and equipment section of Lobo
Corporation%u2019s balance sheet at December 31, 2013, had the
following balances.
Land $ 300,000
Land improvements 140,000
Buildings 1,100,000
Equipment 960,000
During 2014, the following transactions occurred.