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Accounting Problem




Question;A company uses the;percent of sales method to determine its bad debts expense. At the end of the;current year, the company's unadjusted trial balance reported the following;selected amounts;Accounts receivable;$ 361,000 debit;Allowance for uncollectible accounts 560 credit;Net sales 806,000 credit;All sales are made;on credit. Based on past experience, the company estimates 0.4% of credit sales;to be uncollectible. What amount should be debited to Bad Debts Expense when;the year-end adjusting entry is prepared?;$2,004;$3,784;$3,224;$884;$2,664


Paper#45406 | Written in 18-Jul-2015

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