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For the year, cash sales are $700,000 and credit sales are $2,500,000. Management estimates that 1% is the sales percentage to use. What adjusting entry will Valli Company make to record the bad debts
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Nov 21, 2018
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For the year, cash sales are $700,000 and credit sales are $2,500,000. Management estimates that 1% is the sales percentage to use. What adjusting entry will Valli Company make to record the bad debts expense?
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Bad debt expenses 25000
To allowance for doubtful a/c 25000
2500000×0.01=25000
Boneskull
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Nov 25, 2018
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