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Do Homework ttps://www.mathxl.com/Student/PlayerHomework.aspx?homeworkid-5% 1&questionid-4&flushed-false&cld-5343885-... ACCT 102 DB Intro ll (1) 1/13/19 2:13 PM Homework: Chap. 8 HWA Sav Score: 0 of 1 pt 4 of 10 (8 complete) S8-6 (similar to) Question Help During its first year of operations, h late Pass earned net credit sales of $367,000. Industry experience suggests that bad debts will amount to 1% of net credit sales. At December 31, 2018, accounts receivable total $37,000. The company uses the allowance method to account for uncollectibles. Read the requirements Requirement 1. Journalize Chocolate's Bad Debts Expense using the percent-of-sales method. (Record debits first, then credits. Select the explanation on the last line of the journal entry table.) Date Accounts and Explanation Debit Credit Dec. 31 Choose from any list or enter any number in the input fields and then click Check Answer. remaining Clear All Check Answer

Do Homework ttps://www.mathxl.com/Student/PlayerHomework.aspx?homeworkid-5% 1&questionid-4&flushed-false&cld-5343885-... ACCT 102 DB Intro ll (1) 1/13/19 2:13 PM Homework: Chap. 8 HWA Sav Score: 0 of 1 pt 4 of 10 (8 complete) S8-6 (similar to) Question Help During its first year of operations, h late Pass earned net credit sales of $367,000. Industry experience suggests that bad debts will amount to 1% of net credit sales. At December 31, 2018, accounts receivable total $37,000. The company uses the allowance method to account for uncollectibles. Read the requirements Requirement 1. Journalize Chocolate's Bad Debts Expense using the percent-of-sales method. (Record debits first, then credits. Select the explanation on the last line of the journal entry table.) Date Accounts and Explanation Debit Credit Dec. 31 Choose from any list or enter any number in the input fields and then click Check Answer. remaining Clear All Check Answer

FINANCIAL ACCOUNTING
FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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i don't understand the method of the calculation

Do Homework ttps://www.mathxl.com/Student/PlayerHomework.aspx?homeworkid-5% 1&questionid-4&flushed-false&cld-5343885-... ACCT 102 DB Intro ll (1) 1/13/19 2:13 PM Homework: Chap. 8 HWA Sav Score: 0 of 1 pt 4 of 10 (8 complete) S8-6 (similar to) Question Help During its first year of operations, h late Pass earned net credit sales of $367,000. Industry experience suggests that bad debts will amount to 1% of net credit sales. At December 31, 2018, accounts receivable total $37,000. The company uses the allowance method to account for uncollectibles. Read the requirements Requirement 1. Journalize Chocolate's Bad Debts Expense using the percent-of-sales method. (Record debits first, then credits. Select the explanation on the last line of the journal entry table.) Date Accounts and Explanation Debit Credit Dec. 31 Choose from any list or enter any number in the input fields and then click Check Answer. remaining Clear All Check Answer
Transcribed Image Text:Do Homework ttps://www.mathxl.com/Student/PlayerHomework.aspx?homeworkid-5% 1&questionid-4&flushed-false&cld-5343885-... ACCT 102 DB Intro ll (1) 1/13/19 2:13 PM Homework: Chap. 8 HWA Sav Score: 0 of 1 pt 4 of 10 (8 complete) S8-6 (similar to) Question Help During its first year of operations, h late Pass earned net credit sales of $367,000. Industry experience suggests that bad debts will amount to 1% of net credit sales. At December 31, 2018, accounts receivable total $37,000. The company uses the allowance method to account for uncollectibles. Read the requirements Requirement 1. Journalize Chocolate's Bad Debts Expense using the percent-of-sales method. (Record debits first, then credits. Select the explanation on the last line of the journal entry table.) Date Accounts and Explanation Debit Credit Dec. 31 Choose from any list or enter any number in the input fields and then click Check Answer. remaining Clear All Check Answer
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