S7-8 (similar to) Question Help During its first year of operations, Winter Resort earned revenue...
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S7-8 (similar to) Question Help During its first year of operations, Winter Resort earned revenue of $490,000 on account. Industry experience suggests that Winter Resort's uncollectible accounts will amount to 4 percent of revenues. On r 31, 2018, accounts receivable totaled $133,354. The company uses the allowance method to account for uncollectibles Journalize Winter Resort's Bad debt expense using the percent-of-sales method. Show how Winter Resort should report Accounts receivable on its balance sheet on December 31, 2018. Journalize Winter Resort's Bad debt expense using the percent-of-sales method. (Record debits first, then credits. Exclude explanations from any journal entries.) Journal Entry Date Accounts Debit Credit Dec 31 Bad debt expense 19,600 Allowance for uncollectible accounts
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