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lorasvet [3.4K]
3 years ago
12

San Mateo Company had the following account balances at December 31, 2018, before recording bad debt expense for the year: Accou

nts receivable $ 1,400,000 Allowance for doubtful accounts (credit balance) 22,000 Credit sales for 2018 1,950,000 San Mateo is considering the following approaches for estimating bad debts for 2018: Based on 3% of credit sales Based on 6% of year-end accounts receivable What amount should San Mateo charge to bad debt expense at the end of 2018 under each method
Business
1 answer:
daser333 [38]3 years ago
5 0
300-200=100 I’m so smart
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The Correct answer is Increased Flooding which is Option A.

A flood is the accumulation of water over normally dry land. It’s caused by the overflow of inland waters (like rivers and streams) or tidal waters, or by an unusual accumulation of water from sources such as heavy rains or dam or levee breaches.

<h3><u>Why Increased Flooding is an exception and not a benefit?</u></h3>
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The Allowance for Bad Debts account has a debit balance of $ 9 comma 000$9,000 before the adjusting entry for bad debts expense.
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the amount of the adjustment in the Allowance for

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The adjustment entry in the accountig will be

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Allowance for Uncollectible Accounts   $ 3.000

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