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how do you calculate bad debt expense hsing aging of receivables method - Net credit sales are $1,900,000 for the year - Based on historical
how do you calculate bad debt expense hsing aging of receivables method
- Net credit sales are $1,900,000 for the year - Based on historical data, management expects that 1.0% of credit sales will be uncollectible. - Based on historical data, management expects that 4.0% of outstanding receivables will be uncollectible. - Allowance for Doubtful Accounts has a credit balance of $11500 at January 1, 2018. - Accounts Receivable has a debit balance of $750,000 at December 31,2018. - Grady Company wrote off $24,000 of Accounts Receivable as uncollectible. Estimate Bad Debt Expense for 2018 using the percentage of credit sales method. Round your answer to the nearest dollar: $ Estimate Bad Debt Expense for 2018 using the aging of receivables method. Round your answer to the nearest dollar: $ Step by Step Solution
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