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viva [34]
3 years ago
8

Two Stage ABC for Manufacturing

Business
1 answer:
tiny-mole [99]3 years ago
4 0

Answer

The answer and procedures of the exercise are attached in a microsoft excel document.  

Explanation  

Please consider the data provided by the exercise. If you have any question please write me back. All the exercises are solved in a single sheet with the formulas indications.  

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Crimson Inc. recorded credit sales of $779,000, of which $590,000 is not yet due, $110,000 is past due for up to 180 days, and $
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Answer:

$49,690 credit balance

Explanation:

total credit sales = $590,000

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Crimson expects to not collect:

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the adjusting entry should be:

Dr Bad debt expense 53,190

    Cr Allowance for uncollectible accounts 53,190

The ending balance = $53,190 - $3,500 = $49,690

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