Question
As of January 1, 2021, Barley Co. had a credit balance of $538,000 in its allowance for uncollectible accounts. Based on experience, 2% of Barleys
As of January 1, 2021, Barley Co. had a credit balance of $538,000 in its allowance for uncollectible accounts. Based on experience, 2% of Barleys gross accounts receivable have been uncollectible. During 2021, Barley wrote off $668,000 of accounts receivable. Barleys gross accounts receivable as December 31, 2021 is $18,900,000. How much bad debt expense should Barley record for 2021?
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Operational Auditing A Complete Guide Practical Tools For Self Assessment
Authors: The Art Of Service Operational Auditing Publishing
2021 Edition
1867442043, 978-1867442042
