Business, 06.06.2020 15:57 mjabloom17
Crimson Inc. recorded credit sales of $709,000, of which $510,000 is not yet due, $100,000 is past due for up to 180 days, and $99,000 is past due for more than 180 days. Under the aging of receivables method, Crimson Inc. expects it will not collect 2% of the amount not yet due, 17% of the amount past due for up to 180 days, and 26% of the amount past due for more than 180 days. The allowance account had a debit balance of $2,100 before adjustment. After adjusting for bad debt expense, what is the ending balance of the allowance account?
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Crimson Inc. recorded credit sales of $709,000, of which $510,000 is not yet due, $100,000 is past d...
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