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please fast Modem office has 2891631 of credit sales for the year and 53062 of outstanding account receivable and 569 balance of allowance for doubtful
please fast
Modem office has 2891631 of credit sales for the year and 53062 of outstanding account receivable and 569 balance of allowance for doubtful account(AFDA) on December 31. Modern Office estimates that either 0.1% of credit sales or 8% or outstanding account receivable will not be collectible and wants to set up an AFDA How much is bad debt expense for the year under the Percentage of Sales (Income Statement) Approach? ROUND ALL ANSWERS TO 2 DECIMAL PLACES Answer. How much is the bad debt expense for the year under the Percentage of Account Receivable (Balance sheet) Approach? ROUND ALL ANSWERS TO 2 DECIMAL PLACESStep by Step Solution
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