On December 31,2010,Paint Pros Had a Balance in Accounts Receivable

question 16

Essay

On December 31,2010,Paint Pros had a balance in Accounts Receivable of $15,000.Net credit sales for the year were $450,000.The Allowance for Doubtful Accounts has a debit balance of $800.Journalize the recording of the bad debt expense under the income statement approach if 0.8% of net credit sales is deemed uncollectible.

---

Definitions:

Conscious Act

A deliberate action performed with awareness, reflecting the capacity of individuals to apply intention and reflection to their behaviors.

Nonvisually Guided

Actions or behaviors that are executed without the reliance on visual input, often depending on other sensory feedback or pre-learned spatial information.

Unconscious Act

A behavior or action that is performed without conscious thought or intention, often reflexive or automatic.

Opponent-Color

A theory of color vision that suggests colors are perceived through the mechanism of contrasting pairs: blue-yellow, red-green, and black-white.