Question
At December 31, Hawke Company reports the following results for its calendar year. Cash sales $ 80,000 Credit sales $ 200,000 In addition, its unadjusted
At December 31, Hawke Company reports the following results for its calendar year.
| Cash sales | $ 80,000 |
|---|---|
| Credit sales | $ 200,000 |
In addition, its unadjusted trial balance includes the following items.
| Accounts receivable | $ 108,000 | debit |
|---|---|---|
| Allowance for doubtful accounts | $ 1,100 | debit |
Problems 7-2A (Algo) Part 3
3. An aging analysis estimates that 5% of year-end accounts receivable are uncollectible. Show how Accounts Receivable and the Allowance for Doubtful Accounts appear on its December 31 balance sheet.
Answer is complete but not entirely correct.
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Advanced Accounting
Authors: Joe Hoyle, Thomas Schaefer, Timothy Doupnik
10th edition
0-07-794127-6, 978-0-07-79412, 978-0077431808
