Business
Business, 17.10.2019 23:10, alexcuevaz90

Leo co. uses the allowance method to account for bad debts. at the end of 2010, leo co.'s accounts receivable balance is $25,000; allowance for doubtful accounts balance of $100 (credit); and sales of $500,000. based on history, leo estimates that bad debts will be 2% of accounts receivable. the entry to record estimated bad debts will include a debit to bad debts expense in the amount of:

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Leo co. uses the allowance method to account for bad debts. at the end of 2010, leo co.'s accounts r...

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