A company has a beginning balance of $10,000 in its allowance for doubtful accounts. The company estimates
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A company has a beginning balance of $10,000 in its allowance for doubtful accounts. The company estimates that 2% of its credit sales will be uncollectible. During the year, the company had credit sales of $500,000 and wrote off $4,000 of uncollectible accounts. What is the ending balance in the allowance for doubtful accounts?
Related Book For
College Accounting A Contemporary Approach
ISBN: 978-0077639730
3rd edition
Authors: David Haddock, John Price, Michael Farina
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