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Net credit sales for the month are $800,000. The accounts receivable balance is $160,000. The allowance for bad debts is 7.5% of the accounts receivable
Net credit sales for the month are $800,000. The accounts receivable balance is $160,000. The allowance for bad debts is 7.5% of the accounts receivable balance. If the allowance for doubtful or uncollectible has a CREDIT balance of $5000 before the adjustment, what is the balance after the adjustment?
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Intermediate Accounting
Authors: Donald Kieso, Jerry Weygandt, Terry Warfield, Nicola Young,
10th Canadian Edition, Volume 1
978-1118735329, 9781118726327, 1118735323, 1118726324, 978-0176509736
