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FINANCIAL ACCOUNTING
10th Edition
ISBN: 9781259964947
Author: Libby
Publisher: MCG
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Question
What number 10 I had put 2770 and 2070 it’s was wrong

Transcribed Image Text:Use the following to answer questions 8
The following information pertains to RC, Inc. for the
month of December:
11
-
Credit sales
$900,000
Accounts payable
38,500
Accounts receivable
55,400
Allowance for Uncollectible accounts
400 credit
Cash sales
300,000
RC uses the percent of receivables method and estimates
it will not collect 5% of accounts receivable.
8.
$
Determine the ending balance for
the Allowance for Uncollectible Accounts
9.
Determine the appropriate amount
to record for Bad Debt expense
_Assuming the Allowance for
Uncollectible accounts had a $700 debit balance,
determine the amount to record for Bad Debt expense
10.
$
11.
$
After recording bad debt expense,
the Net Accounts Receivable is:
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