Salalah companys recent financial statements showed the following information Net Sales 250,000 OMR Accounts Receivables 180,000 OMR The management made two estimates for the uncollectible receivables It can be 4 5 of net sales or It can be 3 2 of accounts receivables Calculate and record journal e...

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Salalah companys recent financial statements showed the following information. Net Sales 250,000 OMR Accounts Receivables 180,000 OMR

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Salalah company’s recent financial statements showed the following information.

Net Sales	250,000 OMR
Accounts Receivables	180,000 OMR

The management made two estimates for the uncollectible receivables

It can be 4.5 % of net sales or
It can be 3.2 % of accounts receivables

Calculate and record journal entries in each case.

If the company had already recognized an allowance amount of 8,000 OMR, make the journal entry. In this question, make the solution only for net sales case

Posted Date: Nov 27, 2021 04:27 PM

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Salalah companys recent financial statements showed the following information. Net Sales 250,000 OMR Accounts Receivables 180,000 OMR

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