Business, 26.11.2019 18:31 lhecker007

Crimson inc. recorded credit sales of $750,000, of which $600,000 is not yet due, $100,000 is past due for up to 180 days, and $50,000 is past due for more than 180 days. under the aging of receivables approach, crimson inc. expects it will not collect 1% of the amount not yet due, 10% of the amount past due for up to 180 days, and 20% of the amount past due for more than 180 days. the allowance account had a debit balance of $1,000 before adjustment. after adjusting for bad debt expense, what is the ending balance of the allowance account?

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Crimson inc. recorded credit sales of $750,000, of which $600,000 is not yet due, $100,000 is past d...

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