Question
ABC reported the following data for 2021: Accounts Receivable - January 1, 2021 $ 236,000 Credit sales in 2021 $ 820,000 Cash collected from customers
ABC reported the following data for 2021:
Accounts Receivable - January 1, 2021 $ 236,000
Credit sales in 2021 $ 820,000
Cash collected from customers $ 590,000
Accounts eliminated for bad debts in 2021 $ 8,000
Provision for doubtful accounts - January 1, 2021 $ 8,700 cr.
Estimated Bad Debt Expense - 12/31/2021 $ 9,600
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Financial Accounting
Authors: Dr Carl S. Warren, Dr James M. Reeve, Philip E. Fess
9th Edition
032418803X, 978-0324188035
