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help please Percent of Sales Method At the end of the current year, Account cevable has a balance of $735,000, Allowance for Doubtful Account has
help please
Percent of Sales Method At the end of the current year, Account cevable has a balance of $735,000, Allowance for Doubtful Account has a debit balance of 56.500: and sales for the year to $3,310,000. Sed debt expense is estimated at 1/4 of 15 of sales 1. Determine the amount of the adjusting entry for uncollectible accounts 8,275 2. Determine the adjusted balances of Accounts Receivable, Allowance for Doubtful Accounts, and Bad Debt Expense Accounts Receivable 735,000 Allowance for Doubtful Accounts 31,900 X Bed Debt Expense 1,275 3. Determine the net reliable value of accounts receivable. 703, 100 x Festa COM a Remeter that since accounts receivable we created by credit sal uncoteste accounts can be sted as a percent of credit was the portion och constant, the percent may be applied to total Under the percent of a method, the mount of the adjustment is the amountsmated for Bad Debt Expense Rember that netrable is the around that is expected to be collected or Learning Out Step by Step Solution
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