Question: At December 31 2014 State Line Window Sales has an

At December 31, 2014, State Line Window Sales has an Accounts Receivable balance of $96,000. Allowance for Doubtful Accounts has a credit balance of $1,340 before the year-end adjustment. Credit Sales Revenue for 2014 was $608,000. State Line Window Sales estimates that doubtful-account expense for the year is 1% of credit sales. Make the year-end entry to record Doubtful-Account Expense. Show how Accounts Receivable and Allowance for Doubtful Accounts are reported on the balance sheet at December 31, 2014.


View Solution:


Sale on SolutionInn
Sales1
Views411
Comments
  • CreatedJuly 25, 2014
  • Files Included
Post your question
5000