ACC 291 Final Exam

ACC 291 Final Exam...GUARANTEED A ANSWERS! GOOD LUCK Last document update:   ago

1) Hahn Company uses the percentage of sales method for recording bad debts expense. For the year, cash sales are $300,000 and credit sales are $1,200,000. Management estimates that 1% is the sales percentage to use. What adjusting entry will Hahn Company make to record the bad debts expense? A. Bad Debts Expense ................ ................ $15,000 Allowances for Doubtful Accounts ................ ................ $15,000 B. Bad Debts Expense ................ ................ $12,000 ...

ACC 291 Final Exam (Already graded A ) Last document update:   ago

ACC 291 Final Exam An aging of a company's accounts receivable indicates that $4,500 are estimated to be uncollectible. If Allowance for Doubtful Accounts has a $1,200 credit balance, the adjustment to record bad debts for the period will require a credit to Allowance for Doubtful Accounts for $4,500. debit to Bad Debt Expense for $4,500. debit to Allowance for Doubtful Accounts for $3,300. debit to Bad Debt Expense for $3,300. The financial statements of the Melton Manufacturing Comp...