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A firm reported net credit sales of $300000 for the year and and accounts receivable balance of 25000 at year end prior to adjustments allowance
A firm reported net credit sales of $300000 for the year and and accounts receivable balance of 25000 at year end prior to adjustments allowance for doubtful accounts has a debit balance of a $150 the firm as the mate's its losses from uncollectable accounts to be 3 fourths of 1% of net credit sales the entry to record the estimated losses from uncollectable accounts will include a credit to allowance for doubtful accounts for
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