Sage Hill Discount Wholesale Company has a $145200 balance in Accounts Receivable and a $390 debit balance in Allowance for Doubtful Accounts at year-end just prior to recording adjusting entries. Credit sales for the period totaled $963000. How much is the amount of the bad debt adjusting entry if Sage Hill estimates that 1.5% of its receivables will be uncollectible?

Answer rating: 100% (QA)

The bad debt adjusting entry is based on the estimated percentage of uncol... View the full answer