During the year, Company had net credit sales of $41,000 At the end of the...
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Accounting
During the year, Company had net credit sales of $41,000 At the end of the year, before adjusting entries, the balance in Accounts Receivable was $13,000(debit) and the balance in Allowance for Bad Debts was $660(credit). If the company uses an income statement approach to estimate bad debts at 2% what is the ending balance in the Allowance for Bad Debts account?
A.$ 1,480
B.$ 920
C.$ 820
D.$ 160
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