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Below are excerpts from the financial statements of Omega Company. 31/12/2022 31/12/2021 Accounts receivable (gross) 2,400 2,550 Allowance for doubtful debt 100 80 During fiscal
Below are excerpts from the financial statements of Omega Company.
31/12/2022 | 31/12/2021 | |
Accounts receivable (gross) | 2,400 | 2,550 |
Allowance for doubtful debt | 100 | 80 |
During fiscal year 2022, Omega collected 100,000 from customers who had originally paid on credit and wrote off 15 of bad debts. There were no subsequent collections of accounts previously written off, and all sales were on credit (i.e., there were no cash sales). How much did Omega company record as bad debt expense in 2022?
- 100
- 85
- 35
- 20
- Cannot be computed with the information provided.
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