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could someone explain this plz The following selected information is from Imagine Corporation's partial aging schedule in fiscal year 2015. To determine the adjusted allowance
could someone explain this plz
The following selected information is from Imagine Corporation's partial aging schedule in fiscal year 2015. To determine the adjusted allowance for doubtful accounts, the company uses each percentage of uncollectible Accounts Receivables based on different classifications of the number of outstanding days. Number of Days Outstanding | 0-30 days Accounts Receivable Estimated Percentage Uncollectible $110,000 1% 31-60 days 50,000 5% 61-90 days 20,000 20% 12,500 50% Over 90 days Total $192,500 The unadjusted balance in Allowance for Doubtful Accounts is a credit balance of $5,000 at the end of the year of 2015. What is the bad debt expense for the year of 2015? For your answer, make sure to put the number without dollar signs ($), commas (), periods (.), and decimal points. Again, please state the number only without dollar signs, commas, periods, and decimal points for your answer. For example, if the answer happens to be 12345, then you must simply put 12345Step by Step Solution
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