In view of past experience, it is expected there will be a loss due to uncollectible accounts of an amount equal to one-half of one percent of the sales on account during the year. If the sales on account amounted to $250,000, the estimated uncollectible account losses would be
a. $25.
b. $1,250.
c. $2,500.
d. $25,000.
b
Business
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