Question: Could you solve these? Problem 3 Midwest Pool Co. provides for doubtful accounts based on 1.5% of credit sales. The following data are available for
Could you solve these?
Problem 3 Midwest Pool Co. provides for doubtful accounts based on 1.5% of credit sales. The following data are available for 2018. Credit sales during 2018 $1,155,000 Allowance for doubtful accounts 1/1/18 9,350 Collection of accounts written off in prior years (customer credit was reestablished) 4,400 Customer accounts written off as uncollectible during 2018 16,500 What is the balance in the Allowance for Doubtful Accounts at December 31, 2018? Problem 4 At the end of its first year of operations, December 31, 2018, Chevy Chase Inc. reported the following information. Accounts receivable, net of allowance for doubtful accounts $522,500 Customer accounts written off as uncollectible during 2018 13,200 Bad debt expense for 2018 46,200 What should be the balance in accounts receivable at December 31, 2018, before subtracting the allowance for doubtful accounts? hsStep by Step Solution
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