lichael Company uses the percent-of-sales method for estimating bad debts expense. The company's bad debt expense is normally 3% of net credit sales which were $320,000 for me year. During the year $500 was written off. If the Allowance for Bad Debts account had a beginning debit balance of $1,100 what is the balance at the end of the year? A. $8,000 B. $9,100 OC $8,500 OD. $9,600
lichael Company uses the percent-of-sales method for estimating bad debts expense. The company's bad debt expense is normally 3% of net credit sales which were $320,000 for me year. During the year $500 was written off. If the Allowance for Bad Debts account had a beginning debit balance of $1,100 what is the balance at the end of the year? A. $8,000 B. $9,100 OC $8,500 OD. $9,600
College Accounting (Book Only): A Career Approach
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ISBN:9781305084087
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ChapterB: Bad Debts
Section: Chapter Questions
Problem 1P
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![Michael Company uses the percent-of-sales method for estimating bad debts expense. The company's bad debt expense is normally 3% of net credit sales which were $320,000 for
the year. During the year $500 was written off. If the Allowance for Bad Debts account had a beginning debit balance of $1,100 what is the balance at the end of the year?
A. $8,000
B. $9,100
OC. $8,500
OD. $9,600
CITD](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2F7fc7e87a-3422-4e4a-8d1f-cabfd1acbf31%2F40c3dfd0-282d-44c8-94c8-dea1f2835b28%2Fjrdzwnt_processed.jpeg&w=3840&q=75)
Transcribed Image Text:Michael Company uses the percent-of-sales method for estimating bad debts expense. The company's bad debt expense is normally 3% of net credit sales which were $320,000 for
the year. During the year $500 was written off. If the Allowance for Bad Debts account had a beginning debit balance of $1,100 what is the balance at the end of the year?
A. $8,000
B. $9,100
OC. $8,500
OD. $9,600
CITD
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