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At the end of the current year, Accounts Recievable has a balance of 700,000; Allowance for doubtful accounts has a credit balance of $5500; and net sales foee the year 3,500,000. Bad debt expense is estimated at 1/2 of 1% of net sales.

Determine:
(a) Amount of adjusting entry for uncollectible accounts $
(b) Adjust balance of Accounts Receivable $
allowance od doubful Accounts $
Bad Debt Expense $

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Accounting Basics, Accounting

Category:- Accounting Basics
Reference No.:- M9981888

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