Logo
Home Study Material Contact Search
AI Chat FREE
  1. business
  2. accounting
  3. maple co. provides for bad debts expense at the ra

Maple Co. provides for bad debts expense at the rate of 5.59% of ending Accounts...

50.1K

Verified Solution

Question

Accounting

Maple Co. provides for bad debts expense at the rate of 5.59% of ending Accounts Receivable. On Jan 1, 20X1, the Allowance for Bad Debts was $16,000. There were $16,000 of accounts written off during the year. Credit sales for the year were $580,000. Ending Accounts Receivable was $160,000. What is the balance in the Allowance for Bad Debts account?

Enter your response as a whole number, no commas and no dollar

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: Flex AI - Your personal assistant for all your inquiries!
Become a Member

Other questions asked by students

Q

The Goodsmell perfume company has a new line of perfume and is designing a new bottle...

Advance Math
Q

Even though there are cases of Down syndrome that are more severe than others, why do...

Psychology
Q

A 1210 kg car is driving on 60 km/h on an inclined plane. The car is...

Physics
Q

Wells Technical Institute (WTI), a school owned by Tristana Wells, provides training to individuals who pay...

Accounting
Q

Find the Surface Area and Volume of the following triangular prism 27 13 12 14...

Geometry
Q

1 Which of the following form an A P Justify your answer i 1 1...

Algebra
Q

Straight-Line and Units-of-Production Methods Assume that Sample Company purchased factory equipment on January 1, 2017,...

Accounting
Q

Cul es la relacin rpida (prueba cida) de la compaa? Posibles respuestas: 0.7, 1.2, 1.5,...

Accounting
Q

Record each transaction in the iournal. Explanations are not required. Refer to the t accounts...

Accounting
Q

schedule k-1 (form 1065) is used to report: a) Total partnership income, deductions, and credits...

Accounting
Q

You have just been hired by FAB Corporation, the manufacturer of a revolutionary new garage...

Accounting
Q

Tractor Corp receives a dividend from Wheeling It, Inc., a U.S. subsidiary corporation, in the...

Accounting