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WITH FORMULAS PLEASE (EXCEL SPREADSHEET) Chen Company sold $400,000 of services on account during the month. As of the end of the month, the Accounts
WITH FORMULAS PLEASE (EXCEL SPREADSHEET)
Chen Company sold $400,000 of services on account during the month. As of the end of the month, the Accounts Receivable balance was $240,000. 6 If Chen believes that 1.5% of sales is uncollectible, how much is bad debt expense? 7 If Chen believes that 2% of accounts is uncollectible, how much is the ending balance in Allowance for Doubtful Accounts? If the ending balance is aged per the table below, what is the ending balance in Allowance for Doubtful Accounts
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