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klio [65]
3 years ago
5

Saint John Industries uses the percentage of credit sales method to estimate Bad Debt Expense. The company reported net credit s

ales of $670,000 during the year. Saint John has experienced bad debt losses of 5% of credit sales in prior periods. At the beginning of the year, Saint John has a credit balance in its Allowance for Doubtful Accounts of $5,700. No write-offs or recoveries were recorded during the year. What amount of Bad Debt Expense should Saint John recognize for the year?
Business
1 answer:
photoshop1234 [79]3 years ago
5 0

Answer:

$33,500

Explanation:

Relevant data provided

Total Credit Sales = $670,000

Percentage of bad debts = 5%

The computation of Bad Debt Expense is shown below:-

Bad Debt Expense = Total Credit Sales × Percentage of bad debts

= $670,000 × 5%

= $33,500

Therefore for computing the bad debt expenses we simply multiply the total credit sales with percentage of bad debts.

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Answer:

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Explanation

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A special surveillance and rescue team is being deployed to counter the menace of pirates in the Indian Ocean. Nick, Sid, Leah,
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5 0
2 years ago
When using a __________ strategy, there is no change in either the basic product line or the markets served. Instead, increased
Dima020 [189]

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6 0
3 years ago
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Answer:

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Explanation:

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