At the beginning of 2016,Peter Dots has the following ledger balances:
Accounts receivable

Allowance for doubtful debts

Bad debts expense

During the year,credit sales amounted to $810,000.Cash collected on credit sales amounted to $790,000 and $16,000 was written off.At the end of the year,the company adjusted for bad debts expense using the percentage of sales method and applied a rate,based on past history,of 3.5%.The ending balance in Bad debts expense would be:

Question

At the beginning of 2016,Peter Dots has the following ledger balances:
Accounts receivable

Allowance for doubtful debts

Bad debts expense

During the year,credit sales amounted to $810,000.Cash collected on credit sales amounted to $790,000 and $16,000 was written off.At the end of the year,the company adjusted for bad debts expense using the percentage of sales method and applied a rate,based on past history,of 3.5%.The ending balance in Bad debts expense would be:

Quizplus · Accepted Answer

The Answer of At the beginning of 2016,Peter Dots has the following ledger balances:
Accounts receivable

Allowance for doubtful debts

Bad debts expense

During the year,credit sales amounted to $810,000.Cash collected on credit sales amounted to $790,000 and $16,000 was written off.At the end of the year,the company adjusted for bad debts expense using the percentage of sales method and applied a rate,based on past history,of 3.5%.The ending balance in Bad debts expense would be:

At the Beginning of 2016,Peter Dots Has the Following Ledger