stegosaurus corp. made sales of 200,000.00 during May and had an ending AR balance of 500,000.00. The
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stegosaurus corp. made sales of 200,000.00 during May and had an ending AR balance of 500,000.00. The credit balance in the allowance account was 10,000.00. The firm estimates that 8% of its receivables will be uncollectible. What is the entry required to bring the allowance account to its desired balance ?
a) credit of 30,000.00
b) debit of 40,000.00
c) credit of 40,000.00
d) debit of 30,000.00
Related Book For
Essentials Of Modern Business Statistics With Microsoft Excel
ISBN: 9780357131626
8th Edition
Authors: David R. Anderson, Dennis J. Sweeney, Thomas A. Williams, Jeffrey D. Camm, James J. Cochran
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