Assume the same facts as in QS, except that Darius estimates uncollectibles as 0.5% of sales. Prepare
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In QS, Darius Company’s year-end unadjusted trial balance shows accounts receivable of $95,000, allowance for doubtful accounts of $550 (credit), and sales of $350,000. Uncollectibles are estimated to be 1.5% of accounts receivable.
Accounts Receivable
Accounts receivables are debts owed to your company, usually from sales on credit. Accounts receivable is business asset, the sum of the money owed to you by customers who haven’t paid.The standard procedure in business-to-business sales is that...
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