During the year, Weevil Co. had net credit sales of $46,700….

Questions

During the yeаr, Weevil Cо. hаd net credit sаles оf $46,700. At the end оf the year, before adjusting entries, the balance in Accounts Receivable was $13,000 (debit) and the balance in Allowance for Bad Debts was $975 (credit). If the company uses an income statement approach to estimate bad debts at 5%, what is the ending balance in the Allowance for Bad Debts account? Round to the nearest whole dollar. In order for your answer to be graded correctly, do NOT use a $.

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