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Maple Co. provides for bad debts expense at the rate of 5.37% of ending Accounts Receivable. On Jan 1, 20X1, the Allowance for Bad
Maple Co. provides for bad debts expense at the rate of 5.37% of ending Accounts Receivable. On Jan 1, 20X1, the Allowance for Bad Debts was $13,000. There were $16,000 of accounts written off during the year. Credit sales for the year were $605,000. Ending Accounts Receivable was $120,000. What is the balance in the Allowance for Bad Debts account?
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Financial Accounting Tools for Business Decision Making
Authors: Jerry J. Weygandt, Paul D. Kimmel, Donald E. Kieso
5th Edition
9781118560952, 1118560957, 978-0470239803
