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Trump Corp. has outstanding accounts receivable of $622427.0 as of December 31st and sales on credit during the year of $944658.0. There is also a
Trump Corp. has outstanding accounts receivable of $622427.0 as of December 31st and sales on credit during the year of $944658.0. There is also a credit balance of $7431.0 in the allowance for doubtful accounts. In the company estimates that 5.0% of it's outstanding receivables will be uncollectible, what will the amount of the entry be to the allowance for doubtful accounts when making the year end adjustment to record bad debt expense?
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