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Total credit sales $2,200,000
Accounts receivable at December 31 825,000
Bad debts written off 33,000
1. Assume that the Company estimates its bad debt expense to be 2%of credit sales. What amount of bad debts expense will they record if it has an Allowance for Doubtful Accounts credit balance of4000?
2. Assume that the Company estimates its bad debts expense based on 6% of Accounts Receivable. What amount of bad debts expense will the company record if it has an allowance of doubtful accounts credit of 3000?
The partnership does not have a natural business year. What is the required tax year-end for the partnership (if no Sec. 444 election is made)?
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alexia corporation was organized on january1 2012. it is authorized to issue 10000 shares of 8 100 par value preffered
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