Question
Maple Co. provides for bad debts expense at the rate of 1.68% of credit sales for the period. On Jan 1, 20X1, the Allowance for
Maple Co. provides for bad debts expense at the rate of 1.68% of credit sales for the period. On Jan 1, 20X1, the Allowance for Bad Debts was $22,000. There were $16,000 of accounts written off during the year. Credit sales for the year were $500,000. 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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Intermediate Accounting principles and analysis
Authors: Terry d. Warfield, jerry j. weygandt, Donald e. kieso
2nd Edition
471737933, 978-0471737933
