Using the percentage of receivables method for recording bad debt expense, estimated uncollectible accounts are $70,000....
Using the percentage of receivables method for recording bad debt expense, estimated uncollectible accounts are $70,000. If the balance of the Allowance for Doubtful Accounts is $14,000 debit before adjustment what is the balance after adjustment?
a.) $14,000
b.) $84,000
c.) $70,000
d.) $56,000
According to the key, the answer is C... but I think it's wrong, unless I'm missing something here.
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Using the percentage of receivables method for recording bad
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