In preparing the financial statements for January, the accountant for Team Shirts has compiled the following information:
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Question:
- In preparing the financial statements for January, the accountant for Team Shirts has compiled the following information: accounts receivable are $5,000; the amount estimated to be uncollectible is 10% of receivables; sales for the month were $43,000; and the balance in the allowance for uncollectible accounts is a positive $100. Using the accounts receivable allowance method, the amount of bad debts expense for January is ________.
Related Book For
Introduction To Financial Accounting
ISBN: 9781526803009
9th Edition
Authors: Anne Marie Ward, Andrew Thomas
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