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Bronx Corporation uses the percentage of receivables method to estimate uncollectible accounts. Bronx's ending accounts receivable amounted to $60,000 and the current balance of allowance
Bronx Corporation uses the percentage of receivables method to estimate uncollectible accounts. Bronx's ending accounts receivable amounted to $60,000 and the current balance of allowance for doubtful accounts was a $5,000 debit balance. Bronx estimates that 10% of gross receivables will never be collected.
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Accounting concepts and applications
Authors: Albrecht Stice, Stice Swain
11th Edition
978-0538750196, 538745487, 538750197, 978-0538745482
