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qua Ltd.'s makes it's allowance for doubtful debt at 7% of month end Accounts Receivable balance. Its AR balances at end of the following months are: September $25,000; October $20,000 and November $30,000. What will the balance in the Allowance for Doubtful Debts account at the end of each of the three months? *

qua Ltd.'s makes it's allowance for doubtful debt at 7% of month end Accounts Receivable balance. Its AR balances at end of the following months are: September $25,000; October $20,000 and November $30,000. What will the balance in the Allowance for Doubtful Debts account at the end of each of the three months? *

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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Aqua Ltd.'s makes it's allowance for doubtful debt at 7% of month end Accounts Receivable balance. Its AR balances at end of the following months are: September $25,000; October $20,000 and November $30,000. What will the balance in the Allowance for Doubtful Debts account at the end of each of the three months? * $2,100 Credit $1,750 Credit $5,250 Credit $1,400 Credit $3,150 Credit September October November O O O
Transcribed Image Text:Aqua Ltd.'s makes it's allowance for doubtful debt at 7% of month end Accounts Receivable balance. Its AR balances at end of the following months are: September $25,000; October $20,000 and November $30,000. What will the balance in the Allowance for Doubtful Debts account at the end of each of the three months? * $2,100 Credit $1,750 Credit $5,250 Credit $1,400 Credit $3,150 Credit September October November O O O
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