Question
A trial balance with selected accounts at their normal balances before adjustments included the following: Sales: $850,000. Sales returns and allowances : $28,000. Accounts Receivable:
A trial balance with selected accounts at their normal balances before adjustments included the following:
Sales: $850,000.
Sales returns and allowances : $28,000.
Accounts Receivable: $86,000.
Allowance for doubtful accounts: $1,520.
If the estimate of noncollectable is made by taking 2% of net sales, the amount of the adjustment is:
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Financial Accounting
Authors: Carl Warren, James M. Reeve, Philip E. Fess
8th Edition
0324025394, 978-0324025392
