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Can anyone help me with this problem? Please help me to fill out all the blanks. Thank you. The Dubious Company operates in an industry
Can anyone help me with this problem?
Please help me to fill out all the blanks. Thank you.
The Dubious Company operates in an industry where all sales are made on account. The company has experienced bad debt losses of 1.50% of credit sales in prior periods. Presented below is the company's forecast of sales and expenses over the next three years. Year 1 Year 2 Year 3 Sales Revenue 387,000 S 393,000 392,000 Bad Debt Expense Unknown Unknown Unknown Other Expenses 335,000 336,000 340,750 Net Income Unknown Unknown Unknown Required: a. Calculate Bad Debt Expense and net income for each of the three years, assuming uncollectible accounts are estimated as 1.50% of sales. Year 1 Year 2 Year 3 Bad Debt Expense Net Income
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