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Question 18 2 pts In 2022, the Golic Co. had net credit sales of $900,000. On January 1, 2022, the Allowance for Doubtful Accounts had
Question 18 2 pts In 2022, the Golic Co. had net credit sales of $900,000. On January 1, 2022, the Allowance for Doubtful Accounts had a credit balance of $22,500. During 2022, $36,000 of uncollectible accounts receivable were written off. Past experience indicates that the estimated allowance should be 10% of the balance in receivables (percentage-of-receivables basis). If the accounts receivable balance at December 31 was $240,000, what is the required adjustment to the Allowance for Doubtful Accounts at December 31, 2022? O $46,500 O $36,000 O $24,000. O $37,500
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