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For the year, cash sales are $700,000 and credit sales are $2,500,000. Management estimates that 1% is the sales percentage to use. What adjusting entry will Valli Company make …

For the year, cash sales are $700,000 and credit sales are $2,500,000. Management estimates that 1% is the sales percentage to use. What adjusting entry will Valli Company make …
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For the year, cash sales are $700,000 and credit sales are $2,500,000. Management estimates that 1% is the sales percentage to use. What adjusting entry will Valli Company make to record the bad debts expense?

asked
User Mimmo Grottoli
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1 Answer

4 votes
Bad debt expenses 25000
To allowance for doubtful a/c 25000
2500000×0.01=25000
answered
User Boneskull
by
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