Question
Beebo Ltd. provides for doubtful accounts based on 6% of credit sales. The following data are available for 2021. Credit sales during 2021 $3,550,000 Allowance
Beebo Ltd. provides for doubtful accounts based on 6% of credit sales. The following data are available for 2021.
Credit sales during 2021
$3,550,000
Allowance for doubtful accounts, Jan 1, 2021
59,000 Cr
Collection of accounts written off in prior years
3,500
Customer accounts written off as uncollectable during 2021
37,000
How much should the balance in the allowance for doubtful accounts be at December 31, 2021?
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Intermediate Accounting IFRS
Authors: Donald E. Kieso, Jerry J. Weygandt, Terry D. Warfield
3rd edition
1119372933, 978-1119372936
