The following information is from the records of Mountainview Camera Shop: Accounts receivable, December 31, 2018 $80,000 (debit) Net credit sales for 2018 164,000 Accounts written off as uncollectible during 2018 16,000 Cash sales during 2018 45,000 The company uses the direct write−off method for bad debts. What is the amount of bad debts expense? A. $45,000 B. $80,000 C. $68,000 D. $16,000
The following information is from the records of Mountainview Camera Shop: Accounts receivable, December 31, 2018 $80,000 (debit) Net credit sales for 2018 164,000 Accounts written off as uncollectible during 2018 16,000 Cash sales during 2018 45,000 The company uses the direct write−off method for bad debts. What is the amount of bad debts expense? A. $45,000 B. $80,000 C. $68,000 D. $16,000
College Accounting (Book Only): A Career Approach
13th Edition
ISBN:9781337280570
Author:Scott, Cathy J.
Publisher:Scott, Cathy J.
ChapterB: Bad Debts
Section: Chapter Questions
Problem 3P: Nillsons Nursery uses the direct write-off method for recording bad debts. Required Journalize the...
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The following information is from the records of Mountainview Camera Shop:
Accounts receivable, December 31, 2018
|
$80,000 (debit)
|
Net credit sales for 2018
|
164,000
|
Accounts written off as uncollectible during 2018
|
16,000
|
Cash sales during 2018
|
45,000
|
The company uses the direct
bad debts . What is the amount of bad debts expense?
write−off
method for $45,000
$80,000
$68,000
$16,000
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