Jack company provides for bad debt expense at the rate of 2% of
Jack Company provides for bad debt expense at the rate of 2% of credit sales. The following data are available for 2014:
|Allowance for doubtful accounts, 1/1/14 (Cr.)||$||12,000|
|Accounts written off as uncollectible during 2014||9,000|
|Credit sales in 2014||1,200,000|
The Allowance for Doubtful Accounts balance at December 31, 2014, should be
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