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Fresh Dairy Company uses the allowance method and estimates uncollectible accounts based on a percent of sales. Net credit sales represent 75% of total sales. Total sales for 2019 were $840,000. Historically, 1/2 of 1% of net credit sales have been uncollectible. At December 31, 2019, the balance in allowance for doubtful accounts is a $120 credit. What is the balance in bad-debt expense after the adjusting entry is made?
Product Lines
Groups of related products marketed by a company, which possess similar features, functions, or are targeted at similar markets.
Product Cluster
A group of related products marketed together to appeal to a specific market segment or to maximize their selling power.
Product Life Cycle
The sequence of stages from introduction to growth, maturity, and decline through which a product goes over its lifetime.
Wheel of Retailing
A theory that describes how retail outlets begin at the low end of the market and gradually upgrade their facilities and offerings to move upmarket.
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