The CHS company has provided the following information: Accounts receivable written off as uncollectible during the year
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Question:
•Accounts receivable written off as uncollectible during the year amounted to $12,400.
•The accounts receivable balance at the beginning of the year was $240,000.
•The balance of accounts receivable at the end of the year was $300,000.
•The provision for bad debts at the beginning of the year was $14,900.
•The provision for doubtful account balance at the end of the year after recording the bad debt expense was $13,800.
•Credit sales during the year totaled $945,000.
Related Book For
Intermediate accounting
ISBN: 978-0077647094
7th edition
Authors: J. David Spiceland, James Sepe, Mark Nelson
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