Pharoah Co. uses an aging schedule to determine its estimated uncollectible accounts at December 31....
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Pharoah Co. uses an aging schedule to determine its estimated uncollectible accounts at December 31. (a) Your answer is correct. Assuming the allowance for doubtful accounts has an unadjusted credit balance of $5,270 at December 31, what is the bad debt expense for the year? Bad debt expense Prepare the current assets section of the balance sheet for Pharoah Co. Assume that, in addition to the receivables, it has cash of $94,200, merchandise inventory of $126,000, and supplies of $8,200. (List Current Assets in order of liquidity.)
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