Homework Help: Business Maths

Posted by Peaches on Thursday, December 3, 2009 at 12:42pm.

How do i calculate this problem. In 2007 the Pearl Boutique had net credit sales of $750,000. On January 1, 2007, Allowance for Doubtful Accounts had a credit balance of $16,000. During 2007, $30,000 of uncollectible accounts receivable were written off. Past experience indicates that the allowance should be 10% of the balance in receivable (percentage of receivable basis). If the accounts receivable balance at December 31 was $200,000 what is the required adjustment to the Allowance for Doubtful Accounts at December 31, 2007?

No one has answered this question yet.

Answer this Question

Related Questions

Business Maths - Please show me how to calculate this problem: During 2007, ...
finance - Hauser Sports had sales in 2010 of $750,000, cost of sales of $500,000...
college - Les Fleurs, a boutique in Paris, France, had the following accounts in...
Math - Les Fleurs, a boutique in Paris, France, had the following accounts in ...
Math - Les Fleurs, a boutique in Paris, France, had the following accounts in ...
Accounting - Les Fleurs, a boutique in Paris, France, had the following accounts...
Intro to Accounting - Les Fleurs, a boutique in Paris, France, had the following...
accounting - Les Fleurs, a boutique in Paris, France, had the following accounts...
Business Maths - A company past experience indicates the 60% of its credit sales...
Business Finance - The new credit manager of Kay's Department store plans to...

For Further Reading

First Name:
School Subject:
Answer: