Business, 12.11.2019 00:31 xxwoolyknightxx

Net credit sales for the month are $4,000,000 for marx clothiers. its accounts receivable balance is $160,000. the allowance is calculated as 7.5% of the receivables balance using the percentage of receivables basis. the allowance for doubtful accounts has a credit balance of $5,000 before adjustment. how much is the balance of the allowance account after adjustment?

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Net credit sales for the month are $4,000,000 for marx clothiers. its accounts receivable balance is...

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