Sheridan Company provides for doubtful accounts based on 5.0% of credit sales. The following data are...
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Sheridan Company provides for doubtful accounts based on 5.0% of credit sales. The following data are available for 2020: Credit sales during 2020 Allowance for doubtful accounts 1/1/20 Collection of accounts written off in prior years (customer credit was re-established) Customer accounts written off as uncollectible during 2020 $3,040,000 Allowance for doubtful accounts 12/31/20 $ 37,400 15,600 35,300 What is the balance in Allowance for Doubtful Accounts at December 31, 2020? Sheridan Company provides for doubtful accounts based on 5.0% of credit sales. The following data are available for 2020: Credit sales during 2020 Allowance for doubtful accounts 1/1/20 Collection of accounts written off in prior years (customer credit was re-established) Customer accounts written off as uncollectible during 2020 $3,040,000 Allowance for doubtful accounts 12/31/20 $ 37,400 15,600 35,300 What is the balance in Allowance for Doubtful Accounts at December 31, 2020?
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Related Book For
Intermediate Accounting IFRS
ISBN: 978-1119372936
3rd edition
Authors: Donald E. Kieso, Jerry J. Weygandt, Terry D. Warfield
Posted Date:
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