Logo
Home Study Material Contact Search
AI Chat FREE
  1. business
  2. accounting
  3. a trial balance with selected accounts at their no

A trial balance with selected accounts at their normal balances before adjustments included the following:...

60.1K

Verified Solution

Question

Accounting

A trial balance with selected accounts at their normal balances before adjustments included the following:

Sales: $850,000.

Sales returns and allowances : $28,000.

Accounts Receivable: $86,000.

Allowance for doubtful accounts: $1,520.

If the estimate of noncollectable is made by taking 2% of net sales, the amount of the adjustment is:

Answer & Explanation Solved by verified expert
Get Answers to Unlimited Questions

Join us to gain access to millions of questions and expert answers. Enjoy exclusive benefits tailored just for you!

Membership Benefits:
  • Unlimited Question Access with detailed Answers
  • Zin AI - 3 Million Words
  • 10 Dall-E 3 Images
  • 20 Plot Generations
  • Conversation with Dialogue Memory
  • No Ads, Ever!
  • Access to Our Best AI Platform: Zin AI - Your personal assistant for all your inquiries!
Become a Member

Other questions asked by students

Q

Lease versus Buy Big Sky Mining Company must install $1.5 million of new machinery in its Nevada...

Finance
Q

Guthrie Enterprises needs someone to supply it with 149,000 cartons of machine screws per year to...

Finance
Q

A mother and her 15 year old daughter come into the ER because the daughter is feeling...

Medical Sciences
Q

You are field manager for the general contractor on a multi-story office building under construction. The...

Civil Engineering
Q

Imperial Building has height of 73 m. Three snipers on a nearby roof shut with three...

Physics
Q

1 An astronaut accidentally gets separated out of his small spaceship accelerating in interstellar space...

Physics
Q

Which of the following statements are true?To solve 2-95= 55+4, you can subtract 5s from...

Basic Math
Q

Variable Costing Income Statement On April 30, the end of the first month...

Accounting
Q

Exercise 16-3 (Algo) Financial Ratios for Asset Management [LO16-3] Comparative financial statements for Weller Corporation,...

Accounting
Q

A factory purchased a new CNC machine for $150,000. The machine will have a salvage...

Accounting
Q

Better Mousetraps has developed a new trap. It can go into production for an initial...

Finance
Q

Which of the following statements about organizational forms of a business is not correct? A)...

Accounting