Question
In the Byte of Accounting project, I want the journal entry and the calculation of the 5.00% of the outstanding Accounts Receivable (AR) for the
In the Byte of Accounting project, I want the journal entry and the calculation of the 5.00% of the outstanding Accounts Receivable (AR) for the following:
Byte's CPA indicated that 5.00% of the outstanding Accounts Receivable would be a good estimate of the uncollectable accounts. Record the bad debt expense using the adjusted allowance method.
I have the AR is $37,374.00 from the worksheet tab and I took the 5% of that which equals $1,868.70 but I got that wrong. Could you tell me what is the correct calculation for that?
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Auditing Cases An Active Learning Approach
Authors: Mark S. Beasley, Frank A. Buckless, Steven M. Glover, Douglas F. Prawitt
2nd Edition
0130674842, 978-0130674845
