In 2001 rachel fisher co had net credit sales of 750000 on, Ask an Expert

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In 2001 Rachel Fisher Co. had net credit sales of $750,000. On January 1, 2001, allowance for doubtful accounts had a credit balance of $18,000. During 2001, $30,000 of uncollectible accounts receivable were written off. Past experience indicates that 3% of net credit sales become uncollectible. What should be the adjusted balance of allowance for doubtful accounts at December 31, 2001?

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Accounting Basics, Accounting

Category:- Accounting Basics
Reference No.:- M9953201

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