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Superior Company has provided you with the following information before any year-end adjustments: Net credit...

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Accounting

Superior Company has provided you with the following information before any year-end adjustments:

Net credit sales are $125,750.

Historical percentage of credit losses is 4%.

Allowance for doubtful accounts has a credit balance of $425.

Accounts receivables ending balance is $55,500.

What is the estimated bad debt expense using the percentage of credit sales method?

Multiple Choice

  • $2,220.

  • $4,605.

  • $5,455.

  • $5,030.

Answer & Explanation Solved by verified expert
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