Business
Business, 20.12.2019 21:31, zitterkoph

At the beginning of 2019, patriots, inc. has the following account balances: accounts receivable $45,000 (debit) allowance for bad debts $8,000 (credit) bad debts expense $0 during the year, credit sales amounted to $810,000. cash collected on credit sales amounted to $770,000, and $18,000 has been written off. at the end of the year, the company adjusted for bad debts expense using the percent-of-sales method and applied a rate, based on past history, of 3.5%. the amount of bad debts expense for 2019 is

a. $28,350
b. $18,350
c. $18,000
d. $56,875

answer
Answers: 2

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At the beginning of 2019, patriots, inc. has the following account balances: accounts receivable $4...

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