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At the beginning of 2020, the balance in the Allowance for Bad Debts of HealthMaster was $200,000. During the year, the company estimates doubtful accounts
At the beginning of 2020, the balance in the Allowance for Bad Debts of HealthMaster was $200,000. During the year, the company estimates doubtful accounts using an estimate of 0.75% and the percentage of net credit sales method. Sales for the veat were 575.000.000 of which one-third was on credit. Amazingly, the company had no write-offs during the year. At year end. HealthMuster adjusts the Allowance for Bad Debts using the following information: Accounts Probability of Receivable Collection 5650.000 955 200,000 90% 91-120 days 110.000 70% Geth 120 dan 40.000 401 51.000.000 What was the balance of Bad Debt Expense on HealthMaster's unadjusted trial balance? What was the balance of Allowance for Bad Debts on Health Master's adjusted trial balance? $ What wount was reported on the line labeled Accounts Receivable on Health Masters balance sheet at December 31, 2020? $
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