Question
In: Accounting
Using the percentage-of-receivables method for recording bad debts expense, estimated uncollectible accounts are €23,000. If the...
Using the percentage-of-receivables method for recording bad debts expense, estimated uncollectible accounts are €23,000. If the balance of the Allowance for Doubtful Accounts is €2,000 credit before adjustment, what is the balance of the Allowance for Doubtful Accounts end of that period?
a. €2,000
b. €21,000
c. €23,000
d. €25,000
Solutions
Expert Solution
| Balance to be maintained as Allowance for Doubtful Accounts |
| as per the percentage-of-receivables method for recording bad debts expense= |
| 23000 |
| so, the |
| balance of the Allowance for Doubtful Accounts at end of that period= |
| 23000 |
| Answer: c.--23000 |
ekkarill92 answered 2 years agoRelated Solutions
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