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Jamisn, Co had $8500,000 of sales in 2020, all on account. On December 31, 2020, the company reported a debit balance in accounts receivable of
Jamisn, Co had $8500,000 of sales in 2020, all on account. On December 31, 2020, the company reported a debit balance in accounts receivable of $25,713,000 and a credit balance in allowance for bad debt. Of 29750. If the management team believes that 5% of accounts receivable will be uncollectible and if no adjusting entries have yet been made, how much should Jamisn, Co. report as their net A/R on their balance sheet for 2020?
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