Question
Maple Co. provides for bad debts expense at the rate of 5.69% of ending Accounts Receivable. On Jan 1, 20X1, the Allowance for Bad Debts
Maple Co. provides for bad debts expense at the rate of 5.69% of ending Accounts Receivable. On Jan 1, 20X1, the Allowance for Bad Debts was $9,000. There were $16,000 of accounts written off during the year. Credit sales for the year were $620,000. Ending Accounts Receivable was $145,000.
What is the balance in the Allowance for Bad Debts account?
Enter your response as a whole number, no commas and no dollar signs.
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Survey of Accounting
Authors: Thomas P. Edmonds, Frances M. McNair, Philip R. Olds, Bor Yi
3rd Edition
978-1259683794, 77490835, 1259683796, 9780077490836, 978-0078110856
