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At December 31, Amy Jo's Appliances had account balances in Accounts Receivable of $350,000 and in Allowance for Uncollectible Accounts of $1,390 (debit) before
At December 31, Amy Jo's Appliances had account balances in Accounts Receivable of $350,000 and in Allowance for Uncollectible Accounts of $1,390 (debit) before any adjustments. An analysis of Amy Jo's December 31 accounts receivable suggests that the allowance for uncollectible accounts should be 4% of accounts receivable. Bad debt expense for the year should be: Multiple Choice $15,390. $1,390. $16,691. $12,610.
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