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german
3 years ago
7

Trowel Corp. has outstanding accounts receivable totaling $13,000,000 as of December 31 and sales on credit during the year of $

48,000,000. There is also a credit balance of $24,000 in the allowance for doubtful accounts. If the company estimates that 6% of its outstanding receivables will be uncollectible, what will be the amount of bad debt expense recognized for the year
Business
1 answer:
maksim [4K]3 years ago
5 0

Answer:

$756,000

Explanation:

Allowance for Bad Debts opening        ($24,000)

Allowance for Bad Debts Closing         $780,000

(13,000,000)*6%

Allowance Bad  Debt Expense for the year  $756,000

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3 years ago
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DENIUS [597]

Answer:

16.80% and 39.43%

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6 0
3 years ago
In December, a company signed a contract with a regular customer to sell products for $100,000. In January, the company received
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1 year ago
Why would a firm spend over 2 million dollars for a 30-second ad on a television during the super bowl
KatRina [158]

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cause many people will see it

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7 0
2 years ago
Read 2 more answers
EA2.
REY [17]

Answer:

6,000 units

Explanation:

The beginning inventory units are calculated below

We know

Number of units produced = Budgeted units sold + ending inventory units - beginning inventory units

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= 41,000 units - 35,000 units

= 6,000 units

8 0
2 years ago
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