2. During its first year of operations, Master Plumbing Supply Co. had net sales of...
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Accounting
2. During its first year of operations, Master Plumbing Supply Co. had net sales of $3,500,000. During the year they wrote off $15,000 of accounts receivable using the allowance method. a. Determine the bad debt expense for the year assuming the expense is estimated as 141% of net sales. b. Determine the bad debt expense assuming an analysis of accounts receivable showed that $22,000 of the accounts receivable was uncollectible
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