sunny2189
Jul 7, 2014, 05:16 PM
I understand everything in my question except for this line... E
"During the year Sales were $500,000.00, with 75% on account"
Now does that mean if I were to calculate the bad debt expense it would only be 375,000, which is 75%, or does it say 500,000?? Allowance for Uncollectibles is 4,000 so the difference is if the answer of bad debt expense is 30,000 or 40,000, So what is it 500,000 or 375,000?
"During the year Sales were $500,000.00, with 75% on account"
Now does that mean if I were to calculate the bad debt expense it would only be 375,000, which is 75%, or does it say 500,000?? Allowance for Uncollectibles is 4,000 so the difference is if the answer of bad debt expense is 30,000 or 40,000, So what is it 500,000 or 375,000?