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At the end of 2015, Murray State Lenders had a balance in its Allowance for Uncollectible Accounts of $4.500 (credit) before any adjustment. The company
At the end of 2015, Murray State Lenders had a balance in its Allowance for Uncollectible Accounts of $4.500 (credit) before any adjustment. The company estimated its future uncollectible accounts to be $12.000 using the percentage of receivables method. Murray State's adjustment on December 31, 2015, to record its estimated uncollectible accounts included Credit to Allowance for Uncollectible Accounts of $7.500 Credit to Allowance for Uncollectible Accounts of $12.000 Debit to Bad Debt Expense of $7.500 both Band C D 10 29 Suppose that the balance of a company's Allowance for Uncollectible Accounts was $6.200 (credit) at the end of 2015, prior to any adjustments. The company estimated that the total of uncollectible accounts in its accounts receivable was $44,300 at the end of 2015. What amount of bad debt expense would appear in the company's 2015 income statement? 50700 30100 101700 No answer text provided
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