Question
At December 31, Hawke Company reports the following results for its calendar year. Cash sales $ 640,000 Credit sales $ 1,600,000 In addition, its unadjusted
At December 31, Hawke Company reports the following results for its calendar year.
| Cash sales | $ 640,000 |
|---|---|
| Credit sales | $ 1,600,000 |
In addition, its unadjusted trial balance includes the following items.
| Accounts receivable | $ 480,000 | debit |
|---|---|---|
| Allowance for doubtful accounts | $ 5,800 | debit |
3. An aging analysis estimates that 6% of year-end accounts receivable are uncollectible. Show how Accounts Receivable and the Allowance for Doubtful Accounts appear on its December 31 balance sheet.
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Study Guide With Working Papers, Chapters 1-9 For Heintz/Parrys College Accounting
Authors: James A. Heintz, Robert W. Parry
21st Edition
1285059379, 9781285059372
