Using the percentage of net sales method, uncollectible accounts expense for the year is estimated to be
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Question:
Using the percentage of net sales method, uncollectible accounts expense for the year is estimated to be $54,000. If the balance of the Allowance for Uncollectible Accounts is an $18,000 credit before adjustment, what is the balance after adjustment?
a. $72,000
b. $38,000
c. $54,000
d. $18,000
e. None of the above.
Related Book For
Basic Finance An Introduction to Financial Institutions Investments and Management
ISBN: 978-1111820633
10th edition
Authors: Herbert B. Mayo
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