CourseLover

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  • MCS,MBA(IT), Pursuing PHD
    Devry University
    Sep-2004 - Aug-2010

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  • Assistant Financial Analyst
    NatSteel Holdings Pte Ltd
    Aug-2007 - Jul-2017

Category > Accounting Posted 19 Dec 2017 My Price 10.00

credit balance in the Allowance for Doubtful Accounts

At the start of the current year, Fran Company had a credit balance in the Allowance for Doubtful Accounts of $6,000. At the end of the year, a provision of 2% of sales was made for estimated bad debts. Sales for the year were $2,000,000 and $37,000 of accounts receivable were written off as worthless. No recoveries of accounts previously written off were made during the year.  After the year-end bad debts adjustment, The year-end financial statements should show:

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CourseLover
(12)
Status NEW Posted 19 Dec 2017 07:12 AM My Price 10.00

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