The final step in reporting receivables at the end

by | Mar 18, 2020 | Uncategorized

  

The final step in reporting receivables at the end of Year Two is the estimation of the badaccounts incurred during this second year and the preparation of the related adjusting entry. Accordingto the ledger balances, sales on credit for the year were $400,000, remaining accounts receivableamount to $160,000, and a $3,000 debit sits in the allowance for doubtful accounts. No entry has yetbeen made for the Year Two bad debt expense.The final step in reporting receivables at the endHow is the estimation of uncollectible accounts derivedeach year?

  

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