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I need help in this question. I have only 10 minutes to answer. Please fast no lengthy explanation needed but just correct answer. 5. X
I need help in this question. I have only 10 minutes to answer. Please fast no lengthy explanation needed but just correct answer.
5. X Company estimates that 2% of its sales on account for the year ended December 31, 200A will be uncollectible. If the total sales is $4,500,000 and 20% is cash sales, the adjusting entry for the December 31, 200A will include Accounts Receivable $90,000 Allowance for Bad Debts $ 72,000 Bad Debts Expense $ 18,000 An adjusting entry is not necessary 6. Assuming a 365-day year, how long (in average days) does the collectibles from customers stay as outstanding accounts receivable if Company Z has a total sale of $1,800,000 of which $200,000 are cash sales and the beginning and ending accounts receivable balances are $30,000 and $50,000, respectively. 11.40 days 09.13 days 6.84 days 8.11 days Activate WindowsStep by Step Solution
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