A company has $99,000 in outstanding accounts receivable and it uses the allowance method to...
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Accounting
A company has $99,000 in outstanding accounts receivable and it uses the allowance method to account for uncollectible accounts. Experience suggests that 5% of outstanding receivables are uncollectible. The current balance before adjustments in the allowance for doubtful account is 890 debit. The journal entry to record the adjustment to the allowance account includes a debit to Bed Debes Expense for Multiple Choice 54906 54550 55 340 54.060 $4.995 The total amount of the note and interest due on the marty date of a $10.500 120 day streetse 350 daysayan Mr Choice 5500 110.250 $100 51130 59.570
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