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Business, 08.04.2021 16:50 alexandroperez13

Assume Simple Co. had credit sales of $242,000 and cost of goods sold of $142,000 for the period. Simple uses the percentage of credit sales method and estimates that 1 percent of credit sales would result in uncollectible accounts. Before the end-of-period adjustment is made, the Allowance for Doubtful Accounts has a credit balance of $170. Required:
What amount of Bad Debt Expense would the company record as an end-of-period adjustment?

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Assume Simple Co. had credit sales of $242,000 and cost of goods sold of $142,000 for the period. Si...
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