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Net credit sales for the year are $800,000 and bad debts are expected to be 2% of net credit sales. The company uses the
Net credit sales for the year are $800,000 and bad debts are expected to be 2% of net credit sales. The company uses the percentage of sales approach. If Allowance for Doubtful Accounts has credit balance of $19,000 before any bad debt adjustment for the year, what is the credit balance in the Allowance for Doubtful Accounts after the bad debt adjustment? Answer:
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Fundamentals of Advanced Accounting
Authors: Joe Ben Hoyle, Thomas Schaefer, Timothy Doupnik
6th edition
0-07-786223-6, 101259095592, 13: 978-0-07-7, 13978125909559, 978-0077862237
