Question
XYZ Company sold merchandise worth $80,000 on credit to customers during the yearendedDecember31st,2023.Thecompanyestimatesthat2%ofcreditsaleswillbe uncollectible. Calculate: a) The provision for doubtful debts for the year. b)
XYZ Company sold merchandise worth $80,000 on credit to customers during the year ended December 31st, 2023. The company estimates that 2% of credit sales will be uncollectible. Calculate: a) The provision for doubtful debts for the year. b) Net credit sales for the year. c) Gross accounts receivable at the end of the year.
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College Accounting A Contemporary Approach
Authors: David Haddock, John Price, Michael Farina
3rd edition
77639731, 978-0077639730
