Assume that simple co had credit sales of 252000 and cost, Accounting Basics

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Assume that simple co had credit sales of 252000 and cost

Problem

Estimating Bad Debts Using the Aging Method

Assume that Simple Co. had credit sales of $252,000 and cost of goods sold of $152,000 for the period. Simple uses the aging method and estimates that the appropriate ending balance in the Allowance for Accounts has a credit balance of $270 What amount of Bad Debt Expense would the company record as an end-of-period adjustment?

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Accounting Basics: Assume that simple co had credit sales of 252000 and cost

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Accounting Basics: Assume that simple co had credit sales of 252000 and cost

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