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 $
[The following information applies to the questions displayed below.]
At December 31, Hawke Company reports the following results for its calendar year.
| Cash sales | $ 400,000 |
|---|---|
| Credit sales | $ 1,000,000 |
In addition, its unadjusted trial balance includes the following items.
| Accounts receivable | $ 900,000 | debit |
|---|---|---|
| Allowance for doubtful accounts | $ 7,200 | debit |
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.
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Internal Audit In Higher Education
Authors: Alison Holmes, Sally Brown
1st Edition
0749433000, 978-0749433000
