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At the beginning of 2018, Uptown Travel, Inc. has the following account balances: Accounts receivable $45,000 (Debit) Allowance for Bad Debts $8,000 (Credit) During the
At the beginning of 2018, Uptown Travel, Inc. has the following account balances: Accounts receivable $45,000 (Debit) Allowance for Bad Debts $8,000 (Credit) During the year, credit sales were $840,000. Cash collected on credit sales was $760,000, and $18,000 was written off. Uptown uses the aging-of-receivables method to record bad debts expense. The amount estimated as uncollectible was $25,000. The amount of Bad Debts Expense for 2018 is_ O A. $25,000 OB. $10,000 OC. $35,000 OD. $7,000
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