Wellington corp has outstanding accounts receivable, Ask an Expert

Accounting

Wellington Corp. has outstanding accounts receivable totaling $1.27 million as ofDecember 31 and sales on credit during the year of $6.4 million. There is also a debitbalance of $3,000 in the allowance for doubtful accounts. If the company estimates that1% of its net credit sales will be uncollectible, what will be the balance in the allowance fordoubtful accounts after the year-end adjustment to record bad debt expense?

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Financial Accounting, Accounting

Category:- Financial Accounting
Reference No.:- M92021198

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