Accounts

posted by .

The actual bad debt for a business for the three previous years is 5%, if the net credit sales is 2,000,000 then what is the estimate bad debt expenses for the next year.

Respond to this Question

First Name
School Subject
Your Answer

Similar Questions

  1. accounting - please try to help

    the trial balance of a Sporting House shows a $150,000 outstanding balance in A/R at the end of 2005. During 2006, 80% of the total credit sales of $3,500,000 was collected, and no receivables were written off as uncollectible. The …
  2. accounting

    Anzlyzing financial statement effects of accounting for bad debits using the allownace method. Duffy Bros. uses the allowance method to account for bad debets expense. Duffy experienced the following four events in 2008: 1.Recognition …
  3. Accounts

    The estimated allowance for bad debts for the month of May using a percentage .5% on the net sales of 97,500. what is the bad debt expense for the month of may. I will like to see the calculation please.
  4. Business Finance

    The new credit manager of Kay's Department store plans to liberalize the firm's credit policy. The firm currently generates credit sales of $575,000 annually. The more lenient credit policy is expected to produce credit sales of $750,000. …
  5. Financial Accounting

    Use the following information to answer multiple-choice questions 5 and 6. At the end of the year, before any adjustments are made, the accounting records for Sutton Company show a balance of $100,000 in accounts receivable. The allowance …
  6. Statistics (36)

    For borrowers with good credit scores, the mean debt for revolving and installment accounts is $15,015 (BusinessWeek, March 20, 2006). Assume the standard deviation is $3,730 and that debt amounts are normally distributed. a. What …
  7. Economics (36)

    For borrowers with good credit scores, the mean debt for revolving and installment accounts is $15,015 (BusinessWeek, March 20, 2006). Assume the standard deviation is $3,730 and that debt amounts are normally distributed. a. What …
  8. Economics (36)

    For borrowers with good credit scores, the mean debt for revolving and installment accounts is $15,015 (BusinessWeek, March 20, 2006). Assume the standard deviation is $3,730 and that debt amounts are normally distributed. a. What …
  9. FINANCE

    Below is a list of account balances for Currie Hospital as of December 31, 2013. Prepare a balance sheet as of December 31, 2013, in proper form. (Hint: You will need to compute the net assets account. Assume that all net assets at …
  10. Accounting

    X has recorded bad debt expense in the past at a rate of 1.5% of accounts receivable, based on an aging analysis. In 2017, X decides to increase its estimate to 2%. If the new rate had been used in prior years, cumulative bad debt …

More Similar Questions