Logo
Home Study Material Contact Search
AI Chat FREE
  1. business
  2. accounting
  3. net credit sales for the month are $800,000. the a

Net credit sales for the month are $800,000. The accounts receivable balance is $160,000. The...

80.2K

Verified Solution

Question

Accounting

Net credit sales for the month are $800,000. The accounts receivable balance is $160,000. The allowance is calculated as 7.5% of the receivable balance using the percentage of receivable basis. If the Allowance for Doubtful Accounts has a credit balance of $5,000, before the adjustment, what is the balance after the adjustment? a. $12,000 b. $7,000 c. $17,000 d. $31,000

Answer & Explanation Solved by verified expert
Get Answers to Unlimited Questions

Join us to gain access to millions of questions and expert answers. Enjoy exclusive benefits tailored just for you!

Membership Benefits:
  • Unlimited Question Access with detailed Answers
  • Zin AI - 3 Million Words
  • 10 Dall-E 3 Images
  • 20 Plot Generations
  • Conversation with Dialogue Memory
  • No Ads, Ever!
  • Access to Our Best AI Platform: Flex AI - Your personal assistant for all your inquiries!
Become a Member

Other questions asked by students

Accounting
1.2K views

The Riteway Ad Agency provides cars for its sales staff. In the past, the company has...

Physics
1.2K views

Problem 2. In diffraction experiments involving multiple wavelengths of light passing through the same aperture, the...

Physics
1.2K views

I wanted to ask we students are just taught Work force x displacement But isnt...

Physics
1.2K views

A is fixed point at a height above a perfect inelastic smooth horizontal plane A...

Geometry
1.2K views

1 point Which of the following can be used when two triangles share a side...

Geometry
1.2K views

Solve the following compound inequality. Write the solution set using interval notation and graph it.13(x+3)...

Accounting
1.2K views

Please Answer this following problems and explain the work. Use the following information for...

Accounting
1.2K views

d t Accounting...

Accounting
1.2K views

Employee 401(K) deferrals are subject to which taxes

Accounting
1.2K views

1.1 Discuss the recognition criteria, measurement and disclosure requirements of a provision, in your discussion...

Accounting
1.2K views

please answer the question correctly ASAP On December 31,...

Accounting
1.2K views

The statement of stockholders equity includes each of the following except: Select one: Retained Earning...