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14-05-2023
Business

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Dana, Co. uses the percentage of sales basis to estimate its bad debts. For the year ended December 31, 2020, Dana' Co. total sales are €600,000. Management of the company estimates that 1% of credit sales will become uncollectible. The existing balance in Allowances for Doubtful Accounts is a credit balance of €1,150. The Accounts Receivable balance at December 31, 2020 is €82,300 The c realizable value of Accounts Receivable reported on the statement of financial position at December 31, 2020 in 1. O€76,300 2. O€75,150. 3. 0€77,450 4. Cess,300

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