Question
Just before adjusting entries are made at year-end, Pickle Companys accounts receivable balance is $200,000 and Allowance for Uncollectible accounts has a debit balance of
Just before adjusting entries are made at year-end, Pickle Companys accounts receivable balance is $200,000 and Allowance for Uncollectible accounts has a debit balance of $2,000. Credit sales for the year were $1,500,000. However, an aging of accounts receivable results in a $45,000 estimate of bad debts. Using the aging of receivables method, the Bad debt expense is:
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Principles of Accounting
Authors: Belverd E. Needles, Marian Powers and Susan V. Crosson
12th edition
978-1133603054, 113362698X, 9781285607047, 113360305X, 978-1133626985
