Business, 12.06.2020 03:57 shayshay7874

A company uses the percent of sales method to determine its bad debts expense. At the end of the current year, the company's unadjusted trial balance reported the following selected amounts: Accounts receivable$345,000debit Allowance for uncollectible accounts 700debit Net Sales 790,000credit All sales are made on credit. Based on past experience, the company estimates that 0.6% of net credit sales are uncollectible. What amount should be debited to Bad Debts Expense when the year-end adjusting entry is prepared?

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A company uses the percent of sales method to determine its bad debts expense. At the end of the cur...

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