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A Company Has Net Credit Sales of $750000 for the Year

question 166

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A company has net credit sales of $750000 for the year and it estimates that uncollectible accounts will be 3% of sales. If Allowance for Doubtful Accounts has a credit balance of $3000 prior to adjustment its balance after adjustment will be a credit of


Definitions:

Simp

A slang term often used derogatorily to describe a person who shows excessive sympathy or attention towards another person, sometimes in pursuit of a romantic relationship, without receiving any affection in return.

Add

To combine one or more numbers or quantities to get a sum or total.

Inference Forms

Logical structures that guide the transition from premises to conclusions in reasoning.

MP

Member of Parliament, an individual elected to represent a geographic area in the parliament.

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