Question
For 2014, ABC Company estimates bad debt expense at 1% of credit sales. The company reported accounts receivable and an allowance for uncollectible accounts of
| For 2014, ABC Company estimates bad debt expense at 1% of credit sales. The company reported accounts receivable and an allowance for uncollectible accounts of $86,500 and $2,100, respectively, at December 31, 2013. During 2014, ABC's credit sales and collections were $404,000 and $408,000, respectively, and $2,340 in accounts receivable were written off. |
ABC's 2014 bad debt expense is:
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Managerial Accounting Tools for Business Decision Making
Authors: Jerry J. Weygandt, Paul D. Kimmel, Donald E. Kieso
8th edition
978-1-119-3904, 1119392422, 111939242X, 1119390451, 978-1119392422
