Explain the balance after adjustment, Accounting Basics

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Explain the balance after adjustment

Net credit sales for the month are $600,000. The accounts receivable balance is $120,000. The allowance is calculated as 5% of the receivables balance using the percentage of receivables basis. If the Allowance for Doubtful Accounts has a credit balance of $4,000 before adjustment, what is the balance after adjustment?

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Accounting Basics: Explain the balance after adjustment

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Accounting Basics: Explain the balance after adjustment

Reference No:- TGS0705172

Have a Question? (oR Write a Review)

Recent Questions Asked Accounting Basics

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Request for Solution File

Ask an Expert for Answer!!

Accounting Basics: Explain the balance after adjustment

Reference No:- TGS0705172

Recent Questions Asked Accounting Basics

Q : Explain average collection period for accounts receivable

Q : What is the impact of this transaction on net operating

Q : What is the principal of the note

Q : What is the amount of the total long -term liabilities

Q : Explain the balance after adjustment

Q : What is required adjustment to the allowance for doubtful

Q : Calculate the present value of cash flows

Q : Describe the amount of accumulated depreciation

Q : Review a public company financial statements

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