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Bad Debts Expense
Compute Bad Debt expense based on the following information:
1. Moatz Company estimates that 2% of net credit sales will become uncollectible Sales aree $500,000. Sales Returns and Allowances are $20,000, and the Allowance for Doubtful Accounts has a $5,000 credit balance. bad debt expense = ? 2. Moatz Company estimates that 4% of accounts receivable will become uncollectible. Accounts receivable has a $120,000 normal balance at the end of the year, and the allowance for doubtful account has a $200 credit balance. bad debt expense =? :confused: |
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