At December 31, Hawke Company reports the following results for its calendar year. Cash sales Credit sales $ 80,000 $ 200,000 In addition, its unadjusted trial balance includes the following items. Accounts receivable Allowance for doubtful accounts $108,000 debit $ 1,100 debit Problem 7-2A (Algo) Part 2 2. Bad debts are estimated to be 3% of credit sales. Show how Accounts Receivable and the Allowance for Doubtful Accounts appear on its December 31 balance sheet. Current assets:

At December 31, Hawke Company reports the following results for its calendar year. Cash sales Credit sales $ 80,000 $ 200,000 In addition, its unadjusted trial balance includes the following items. Accounts receivable Allowance for doubtful accounts $108,000 debit $ 1,100 debit Problem 7-2A (Algo) Part 2 2. Bad debts are estimated to be 3% of credit sales. Show how Accounts Receivable and the Allowance for Doubtful Accounts appear on its December 31 balance sheet. Current assets:

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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Required information Skip to question [The following information applies to the questions displayed below.] At December 31, Hawke Company reports the following results for its calendar year. Cash sales $ 80,000 Credit sales $ 200,000 In addition, its unadjusted trial balance includes the following items. Accounts receivable $ 108,000 debit Allowance for doubtful accounts $ 1,100 debit 2. Bad debts are estimated to be 3% of credit sales. Show how Accounts Receivable and the Allowance for Doubtful Accounts appear on its December 31 balance sheet.
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Required information [The following information applies to the questions displayed below.] At December 31, Hawke Company reports the following results for its calendar year. $ 1,905,000 $ 5,682,000 In addition, its unadjusted trial balance includes the following items. Cash sales Credit sales Accounts receivable Allowance for doubtful accounts. $ 1,270, 100 debit $ 16,580 debit 2. Bad debts are estimated to be 1.5% of credit sales. Show how Accounts Receivable and the Allowance for Doubtful Accounts appear on its December 31 balance sheet.
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