ABC Inc. uses the percentage-of-sales method to estimate uncollectible account receivable. Net credit sales for 2017 is
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ABC Inc. uses the percentage-of-sales method to estimate uncollectible account receivable. Net credit sales for 2017 is $1,000,000 and ABC estimates 2% of net credit sales is uncollectible. Beginning allowance account has a credit balance of $90,000. The ending balance in the Allowance for Uncollectible Accounts after all adjustments will be:
Related Book For
Principles of Accounting
ISBN: 978-0618736614
10th edition
Authors: Belverd Needles, Marian Powers, Susan Crosson
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