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Business, 17.03.2020 04:32 annikafischer
Statement. Credit sales $678,000 Bad debt expense as a percentage of sales 2% Write-off of accounts receivable $1,000 Tax rate 30% Estimated tax payment $31,000 Incorrect income statement, for the year ended December 31 Sales $678,000 Expenses 549,200 Bad debt expense 1,000 Pretax income 127,800 Tax expense 38,340 Net income 89,460 1) What is the allowance for doubtful accounts in 20X1?
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Statement. Credit sales $678,000 Bad debt expense as a percentage of sales 2% Write-off of accounts...
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