Question
The following information pertains to a company at the end of the year: Credit Sales $ 170,000 Accounts Payable 37,000 Accounts Receivable 34,000 Allowance for
The following information pertains to a company at the end of the year:
| Credit Sales | $ 170,000 | |
|---|---|---|
| Accounts Payable | 37,000 | |
| Accounts Receivable | 34,000 | |
| Allowance for Uncollectible Accounts | 500 | debit |
| Cash Sales | 8,900 |
The company uses the percentage-of-credit-sales method and estimates that 9% of the credit sales are uncollectible. After the year-end adjusting entry, what amount of bad debt expense would the company report for the year?
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A Guide To The National Initiative For Cybersecurity Education NICE Cybersecurity Workforce Framework 2.0 Internal Audit And IT Audit
Authors: Dan Shoemaker, Anne Kohnke, Ken Sigler
1st Edition
0367658623, 978-0367658625
