Wren Company had the following account balances at December 31, Year 1: Accounts receivable $ 900,000 Allowance for doubtful accounts before any provision for Year 1 doubtful accounts expense) 16,000 Credit sales for Year 1 1,750,000 Wren is considering the following method of estimating doubtful accounts expense for year 1: • Based on credit sales at 2% • Based on accounts receivable at 5% What amount should Wren charge to doubtful accounts expense under each method? Percentage of credit sales Percentage of accounts receivable
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Business, 22.06.2019 19:50
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Wren Company had the following account balances at December 31, Year 1: Accounts receivable $ 900,00...
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