Question
Required information Skip to question [The following information applies to the questions displayed below.] At December 31, Hawke Company reports the following results for its
Required information
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[The following information applies to the questions displayed below.] At December 31, Hawke Company reports the following results for its calendar year.
| Cash sales | $ 280,000 |
|---|---|
| Credit sales | $ 700,000 |
In addition, its unadjusted trial balance includes the following items.
| Accounts receivable | $ 630,000 | debit |
|---|---|---|
| Allowance for doubtful accounts | $ 5,000 | debit |
2. Bad debts are estimated to be 4% of credit sales. Show how Accounts Receivable and the Allowance for Doubtful Accounts appear on its December 31 balance sheet.
Required information
Skip to question
[The following information applies to the questions displayed below.] At December 31, Hawke Company reports the following results for its calendar year.
| Cash sales | $ 280,000 |
|---|---|
| Credit sales | $ 700,000 |
In addition, its unadjusted trial balance includes the following items.
| Accounts receivable | $ 630,000 | debit |
|---|---|---|
| Allowance for doubtful accounts | $ 5,000 | debit |
2. Bad debts are estimated to be 4% of credit sales. Show how Accounts Receivable and the Allowance for Doubtful Accounts appear on its December 31 balance sheet.
CURRENT ASSTETS:
____?____. ___?___.
____?____. ___?___.
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Intermediate Accounting
Authors: Donald E. Kieso, Jerry J. Weygandt, And Terry D. Warfield
13th Edition
9780470374948, 470423684, 470374942, 978-0470423684
