{ "key_pair_value_system": true, "answer_rating_count": "", "question_feedback_html": { "html_star": "", "html_star_feedback": "" }, "answer_average_rating_value": "", "answer_date_js": "2024-06-28T07:51:14-04:00", "answer_date": "2024-06-28 07:51:14", "is_docs_available": null, "is_excel_available": null, "is_pdf_available": null, "count_file_available": 0, "main_page": "student_question_view", "question_id": "4267309", "url": "\/study-help\/questions\/a-company-uses-the-percent-of-sales-method-to-determine-4267309", "question_creation_date_js": "2024-06-28T07:51:14-04:00", "question_creation_date": "Jun 28, 2024 07:51 AM", "meta_title": "[Solved] A company uses the percent of sales metho | SolutionInn", "meta_description": "Answer of - A company uses the percent of sales method to determine its bad debts expense. At the end of the current year, the com | SolutionInn", "meta_keywords": "company,percent,sales,method,determine,bad,debts,expense,end,current,year,s", "question_title_h1": "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", "question_title": "A company uses the percent of sales method to determine its bad", "question_title_for_js_snippet": "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 $ 345,000 debit Allowance for uncollectible accounts 700 credit Net sales 790,000 credit All sales are made on credit Based on past experience, the company estimates that 0 6 of credit sales are uncollectible What amount should be debited to Bad Debts Expense when the year end adjusting entry is prepared ", "question_description": "

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:<\/p> <\/td><\/tr><\/tbody><\/table>
Accounts receivable<\/td> $ 345,000 debit <\/td> <\/tr>
Allowance for uncollectible accounts<\/td> 700 credit <\/td> <\/tr>
Net sales<\/td> 790,000 credit <\/td> <\/tr> <\/tbody><\/table>

<\/p>

All sales are made on credit. Based on past experience, the company estimates that 0.6% of credit sales are uncollectible. What amount should be debited to Bad Debts Expense when the year-end adjusting entry is prepared?<\/p> <\/td><\/tr><\/tbody><\/table>", "transcribed_text": "", "related_book": { "title": "Income Tax Fundamentals 2013", "isbn": "1111972516, 978-1285586618, 1285586611, 978-1285613109, 978-1111972516", "edition": "31st Edition", "authors": "Gerald E. Whittenburg, Martha Altus Buller, Steven L Gill", "cover_image": "https:\/\/dsd5zvtm8ll6.cloudfront.net\/si.question.images\/book_images\/1124.jpg", "uri": "\/textbooks\/income-tax-fundamentals-2013-31st-edition-9781285586618", "see_more_uri": "" }, "free_related_book": { "isbn": "B0CVBNKQHG", "uri": "\/textbooks\/stargazing-fascination-unveiling-the-cosmos-1st-edition-979-8879019148-290922", "name": "Stargazing Fascination Unveiling The Cosmos", "edition": "1st Edition" }, "question_posted": "2024-06-28 07:51:14", "see_more_questions_link": "\/study-help\/questions\/business-marketing-2022-June-08", "step_by_step_answer": "The Answer is in the image, click to view ...", "students_also_viewed": [ { "url": "\/feng-is-the-owner-of-a-small-business-when-feng", "description": "Feng is the owner of a small business. When Feng has worked hard (a1) during the year, net income before manager compensation has been $ 1,600 60% of the time and $ 400 40% of the time. 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