P9-2A Information related
Total credit sales 2,500,000
Accounts receivable at December 31 970,000
Bad debts written off 66,000
Instructions
(a)a) Assume that Hamilton Company estimates its bad debt expense based on 3% of credit sales. What amounts of bad debt expense will Hamilton record of it has Allowance for Doubtful Accounts credit balance of $4000.00?
Assume that Hamilton Company estimates its bad debt expense based on 7%of accounts receivable. What amount of bad debt expense will Hamilton record if it has an Allowance for Doubtful Accounts credit balance of $3000.00?
a) Assume the same facts as in ©, except that there is a $3000.00 debit balance in Allowance for Doubtful Accounts. What amount of bad debt expense will Hamilton record?
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