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A company had total sales of $620,000, net sales of $582.000, and an averape accounts receivable, net of 597,000 . its accounts receivable tumover equals
A company had total sales of $620,000, net sales of $582.000, and an averape accounts receivable, net of 597,000 . its accounts receivable tumover equals Muipic Choice 6.4 60 556 11 63.8 A company uses the percent of sales method to determine its bad debts expense. At the end of the current year, the company's unadjusted trial balance reported the following selected amounts: Accounts receivable Net 5 les 5362,060debit807,890credit All sales are made on credit. Based on past experience, the company estimates 0.3% of net sales to be uncollectible. What adjusting entry should the company make at the end of the current year to record is estimated bad debts expense? Muliple Choice Debit Ead Debts Expense \$1006, credit Alowance for Doubedi Accounts $1,066. Debat Ead Debts Eqpense $2,99t credt Alowance for Doubthul Aocounts $2,991. Debt Bad Debts Expense \$1.85t credt Allowance for Doubtful Accounts \$1a5t Oebit Bad Debts Expense $1656 corda Alowance for Doubitur Accounts $1654 A company uses the percent of sales method to determine its bad debts expense. At the end of the current year, the company's unadjusted trial balance reported the following selected amounts: Accounts receivable Net 5 les 5362,060debit807,890credit All sales are made on credit. Based on past experience, the company estimates 0.3% of net sales to be uncollectible. What adjusting entry should the company make at the end of the current year to record is estimated bad debts expense? Muliple Choice Debit Ead Debts Expense \$1006, credit Alowance for Doubedi Accounts $1,066. Debat Ead Debts Eqpense $2,99t credt Alowance for Doubthul Aocounts $2,991. Debt Bad Debts Expense \$1.85t credt Allowance for Doubtful Accounts \$1a5t Oebit Bad Debts Expense $1656 corda Alowance for Doubitur Accounts $1654
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