a company has a balance in accounts receivable of 600,000 at the end of the year...
a company has a balance in accounts receivable of 600,000 at the end of the year and it estimates that collectible accounts will be 2% of accounts receivable. If allowance for doubtful accounts has a credit balance of 1,000 prior to adjustment, its balance after adjustment will be a credit of:
a. 12000
b.13000
c.11000
d. non of the above
Homework Answers
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Balance in Allowance for Doubtful Accounts = (600,000*2%) - credit balance in Allowance for Doubtful Accounts 1,000 = 12,000 - 1,000 = 11,000 |
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