Following are the account balances from the December 31 trial balance of Lark Company: $\begin{array}{lc}
\text { Accounts Receivable } & \$ 60,000 \
\text { Allowance for Bad Debts } & 2,400 &(dr)\
\text { Sales Revenue } & 405,000 \
\text { Sales Retums and Allowances } & 15,000
\end{array}$ If 1 percent of the net sales is estimated to be uncollectible, the entry to record the estimate of bad debts would include a debit to Bad Debt Expense for

Question

Quizplus · Accepted Answer

The Answer of Following are the account balances from the December 31 trial balance of Lark Company: $\begin{array}{lc}
\text { Accounts Receivable } & \$ 60,000 \
\text { Allowance for Bad Debts } & 2,400 &(dr)\
\text { Sales Revenue } & 405,000 \
\text { Sales Retums and Allowances } & 15,000
\end{array}$ If 1 percent of the net sales is estimated to be uncollectible, the entry to record the estimate of bad debts would include a debit to Bad Debt Expense for

Following Are the Account Balances from the December 31 Trial