Question
S Companys unadjusted trial balance at December 31 (the end of the fiscal year) includes the following accounts: Allowance for Doubtful Accounts: Debit balance $4,000
S Companys unadjusted trial balance at December 31 (the end of the fiscal year) includes the following accounts:
Allowance for Doubtful Accounts: Debit balance $4,000
Accounts Receivable: $1,5000,000
S Company estimates its bad debt expense to be 1.5% of ending receivables. Determine its bad debt expense for the fiscal year ended December 31.
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Auditing And Assurance Services
Authors: Timothy J Louwers, Robert J. Ramsay, David Sinason, Jerry R Strawser
1st Edition
0072954442, 9780072954449
