Question
At December 31, Hawke Company reports the following results for its calendar year. Cash sales $ 520,000 Credit sales $ 1,300,000 In addition, its unadjusted
At December 31, Hawke Company reports the following results for its calendar year.
| Cash sales | $ 520,000 |
|---|---|
| Credit sales | $ 1,300,000 |
In addition, its unadjusted trial balance includes the following items.
| Accounts receivable | $ 390,000 | debit |
|---|---|---|
| Allowance for doubtful accounts | $ 4,700 | debit |
2. Bad debts are estimated to be 2% of credit sales. Show how Accounts Receivable and the Allowance for Doubtful Accounts appear on its December 31 balance sheet.
Current assets: _________________. _____________
_________________. ______________
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Bank Strategy, Governance And Ratings
Authors: P. Molyneux
3rd Edition
0230313345, 9780230313347
