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During 2016, ABC Company had $750,000 of net credit sales. Accounts Receivable had a December 31, 2106, balance of $250,000. No amounts have been added
- During 2016, ABC Company had $750,000 of net credit sales. Accounts Receivable had a December 31, 2106, balance of $250,000. No amounts have been added to the Allowance for Doubtful Accounts during 2016 . Before adjustment on December 31, 2016, the Allowance for Doubtful Accounts had a debit balance of $2,000. ABC estimates that 3% of net credit sales will become uncollectible. What will be the adjusted balance in Allowance for Doubtful Accounts at December 3 1 ?
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Survey of Accounting
Authors: Thomas P. Edmonds, Frances M. McNair, Philip R. Olds, Bor Yi
3rd Edition
978-1259683794, 77490835, 1259683796, 9780077490836, 978-0078110856
