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    mooonkey's Avatar
    mooonkey Posts: 1, Reputation: 1
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    #1

    Sep 27, 2015, 06:29 PM
    How to determine estimated percentage for percentage of sales method?
    Company had the following information relating to credit sales in 2009
    Accounts receivable December 31, 2009 $ 8,000
    Allowances for doubtful accounts, Dec.31, 2009 (before adjustment) $ 750
    Credit sales during 2009 $ 38,000
    Cash sales during 2009 $ 12,000
    Collections from customers on account during 2009 $ 41,000

    Using the percentage-of-sales method, what is the adjusted balance in the Allowance account at year-end 2009?
    paraclete's Avatar
    paraclete Posts: 2,706, Reputation: 173
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    #2

    Sep 28, 2015, 03:26 AM
    The number you seek is probably 450
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