Maple Co. provides for bad debts expense at the rate of 1.97% of credit sales for...
Maple Co. provides for bad debts expense at the rate of 1.97% of credit sales for the period. On Jan 1, 20X1, the Allowance for Bad Debts was $26,000. There were $16,000 of accounts written off during the year. Credit sales for the year were $795,000. What is the balance in the Allowance for Bad Debts account? Enter your response as a whole number, no commas and no dollar signs.
Homework Answers
Adjusting entry amount = 795000*1.97% = 15661.50 or $15662
Ending balance for allowance for doubtful accounts
| Beginning balance | 26000 |
| Less: Write off | -16000 |
| Adjusting entry amount | 15662 |
| Ending balance of allowance for bad debts | 25662 |
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Maple Co. provides for bad debts expense at the rate of 1.97% of
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