Assume the same facts as in the question above except that, Ask an Expert

Accounting

Here is the informatin related to schellhamer company for 2010
total credit sales 1,532,730
accounts receivable at december 31 852,000
bad debts written off 52,020

what amount of bad debts will the company report if it uses the direct prepare off method of accounting for bad debts?

Assume that the company decides to estimate its bad debts expense based on 3% of accounts receivable. what amont of bad debts expense will the comoany record if allowance for doubtful accounts has a credit balance of 3,699$?

Assume the same facts as in the problem above, except that there is a $1,684 debit balance in Allowance for doubtful Accounts. What amount of bad debts expense would the company record?

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Accounting Basics, Accounting

Category:- Accounting Basics
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