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A company's net credit sales for the year are $5,000,000 On December 31, its accounts receivable balance is $180,000. The allowance is calculated as
A company's net credit sales for the year are $5,000,000 On December 31, its accounts receivable balance is $180,000. The allowance is calculated as 8.5% of the receivables balance using the percentage of receivables basis. The Allowance for Doubtful Accounts has a credit balance of $6,000 before adjustment. How much is the balance of the allowance account after adjustment? O Credit balance of $9,300 O Credit balance of $6,000 O Debit balance of $9,300 O Debit balance of $15,300 O Credit balance of $15,300
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