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Question: Peoples Company uses the percentage of Sales method to determine bad debt expense; based on...

Question: Peoples Company uses the percentage of Sales method to determine bad debt expense; based on company's history, 3% of the Sales balance will be uncollectible. Year Sales Write-offs Accounts Receivable 20x5 $5,000,000 $1,000,000 20x6 $7,000,000 $120,000 $1,200,000 20x7 $9,000,000 $190,000 $1,400.000 20x8 $10,000,000 $200,000 $1,600,000 Based on the information above, determine, the following: A. Bad Debt Expense B.Allowance for Uncollectible Accounts: view the Written Example to see how to calculate, there is a spreadsheet attached. C. Net Realizable Value Please show all steps thanks.

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Bad debt

ekkarill92 answered 2 years ago
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