craigmont uses the allowance method to account for uncollectible accounts. Its year-end unadjusted trial balance shows Accounts Receivable of $146,500, allowance for doubtful accounts of
craigmont uses the allowance method to account for uncollectible accounts. Its year-end unadjusted trial balance shows Accounts Receivable of $146,500, allowance for doubtful accounts of $1,085 (credit) and sales of $1,135,000. If uncollectible accounts are estimated to be 5% of accounts receivable, what is the amount of the bad debts expense adjusting entry?
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Authors: Bob Walsh
1st Edition
1539591794, 978-1539591795
