Question
Presented The trial balance before adjustment of ABC Company reports the following balances at 12/31/2016, the companys fiscal year end: Dr. Cr. Accounts receivable $300,000
Presented The trial balance before adjustment of ABC Company reports the following balances at 12/31/2016, the companys fiscal year end:
Dr. Cr.
Accounts receivable $300,000
Allowance for doubtful accounts $ 5,000
Sales (all on credit) 1,700,000
Sales returns and allowances 80,000
Using T-account:
Record the balances as indicated above. Label these unadjusted balances B for balance.
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Financial Accounting Practice And Principles
Authors: Jan Bebbington, M. Richard Laughlin, Robert H. Gray, Gray Dave
3rd Edition
1861527713, 978-1861527714
