Refer to the data in BE8-5 for Gourdeau Co. In BE8-5 (a) Assuming the allowance for doubtful
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In BE8-5
(a) Assuming the allowance for doubtful accounts has an unadjusted credit balance of $4,500 at December 31, what is the bad debt expense for the year?
(b) Assume instead that the allowance for doubtful accounts had a debit balance of $2,500. What is the bad debt expense for the year?
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Number of Days Estimated Uncollectible Accounts Accounts Receivable $265,000 70,000 45,000 20,000 $400,000 Estimated % Uncollectible 196 4% 10% 20% Outstanding 0-30 days 31-60 days 61-90 days Over 90 days Total
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a Dec 31 Bad Debts Expense 13950 45...View the full answer
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Related Book For
Accounting Principles Part 2
ISBN: 978-1118306796
6th Canadian edition Volume 1
Authors: Jerry J. Weygandt, Donald E. Kieso, Paul D. Kimmel, Barbara Trenholm, Valerie Kinnear, Joan E. Barlow
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