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Accounts Receivable and Allowance for Doubtful Accounts
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IF a company sold$ 60000 of merchandise on credit.and Wrote off $10000 of uncollectible accounts receivable.Received $20000 cash in payment of accounts receivable. In adjusting the accounts , the company estimated that 0.5% of accounts receivable will be uncollectible. How can I account the ...
Debit balance in Allowance for doubtful accounts account
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If the balance in the Allowance for doubtful accounts is a credit of lets say 1,500, we would record the following on the balance sheet: Current assets: Accounts Receivable... 10,000 Less: Allowance for doubtful accounts... 1,500 ...
Allowance for doubtful accounts
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An examination of customers' accounts shows that accounts totaling $779 should be written off as uncollectible. Using an aging of receivables, the company determines that the ending balance of the Allowance for doubtful accounts should be $800. What is the adjustment needed to obtain the correct... View more questions Search
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