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A company has credit sales of $400,000 and estimates 0.6 % of those sales will not be collectible. Record the estimated baddebts using percentage of
A company has credit sales of $400,000 and estimates 0.6 % of those sales will not be collectible. Record the estimated baddebts using percentage of sales method under allowance approach
Debit debts 2400 and Credit Accounts Receivable 2400
Debit Bad debts 240,000 and Credit Allowance for Doubtful Debts 240,000
Debit Allowance for Doubtful Debts 2400 and Credit Bad debts $2400
Debit Bad debts 2400 and Credit Allowance for Doubtful Debts 52400
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The Little Book Of Market Wizards Lessons From The Greatest Traders
Authors: Jack D. Schwager
1st Edition
1118858697, 978-1118858691
