Vasquez Construction uses the percentage of sales method to estimate uncollectibles. Net credit sales for the current
Question:
Vasquez Construction uses the percentage of sales method to estimate uncollectibles. Net credit sales for the current year amount to $500,000 and management estimates 2% will be uncollectible. Allowance for doubtful accounts prior to adjustment has a debit balance of $890. The amount of expense reported on the income statement will be
a. $10,000.
b. $10,890
c. $9,110.
d. $890.
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The estimated uncollectible amount is 50000...View the full answer
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