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B company sold 100,000 units on credit during 2019. The company estimates that 1% of net credit sales will become uncollectible. The net credit sales
B company sold 100,000 units on credit during 2019. The company estimates that 1% of net credit sales will become uncollectible. The net credit sales for 2019 are $800,000. It began the year with an $1,700 balance in its allowance for bad debts and end the year with an $6,700 balance. The companys accountant reported bad debts expense on the income statement and tax form of $8,000 is this the correct reported bad debts expense on the income statement? or not
is this the correct reported bad debts expense on the income statement? or not
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