Question
Maple Co. provides for bad debts expense at the rate of 5.35% of ending Accounts Receivable. On Jan 1, 20X1, the Allowance for Bad Debts
Maple Co. provides for bad debts expense at the rate of 5.35% of ending Accounts Receivable. On Jan 1, 20X1, the Allowance for Bad Debts was $16,000. There were $16,000 of accounts written off during the year. Credit sales for the year were $540,000. Ending Accounts Receivable was $115,000
What is the balance in the Allowance for Bad Debts account?
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Managerial accounting
Authors: ramji balakrishnan, k. s i varamakrishnan, Geoffrey b. sprin
1st edition
471467855, 978-0471467854
