Question
A)History indicates that 8 % of a company's net sales are uncollectible. The balance of accounts receivables is $ 111,900. The company sales are $
A)History indicates that 8 % of a company's net sales are uncollectible. The balance of accounts receivables is $ 111,900. The company sales are $ 811,900 and sales returns and allowances are 27,200. If Allowance for Doubtful Accounts has a $ 3,600 credit balance, the adjustment, rounding to the nearest one dollar, to record the estimate for bad debts for the period will require a credit to the Allowance of Doubtful Accounts of $
B) History indicates that 6 % of a company's accounts receivable are uncollectible. The balance of accounts receivables is $ 246,600. If Allowance for Doubtful Accounts has a $ 1,600 credit balance, the adjustment, rounding to the nearest one dollar, to record the estimate for bad debts for the period will require a credit to the Allowance of Doubtful Accounts of $
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