Business, 26.03.2020 23:40 SSE4802

In 2022 the Pharoah Company had net credit sales of $1040000. On January 1, 2022, the Allowance for Doubtful Accounts had a credit balance of $23300. During 2022, $34400 of uncollectible accounts receivable were written off. Past experience indicates that the allowance should be 5% of the balance in receivables (percentage-of-receivables basis). If the accounts receivable balance at December 31 was $244000, what is the required adjustment to the Allowance for Doubtful Accounts at December 31, 2022

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In 2022 the Pharoah Company had net credit sales of $1040000. On January 1, 2022, the Allowance for...

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