Prince Eric Company uses an allowance method to account for bad debts. Prince Eric estimates...
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Accounting
Prince Eric Company uses an allowance method to account for bad debts. Prince Eric estimates that 9% of the outstanding accounts receivable will be uncollectible. At the end of the year, Prince Eric has outstanding accounts receivable of $500,000, and a debit balance in the Allowance for Uncollectible Accounts of $15,000. Prince Eric should record uncollectible accounts expense of: Question options: a) $60,000 b) $15,000 c) $45,000 d) $55,500
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