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Hughes Company has a debit balance of $15,000 in its Allowance for Doubtful Accounts before any adjustments are made at the end of the year.
Hughes Company has a debit balance of $15,000 in its Allowance for | |||||||
Doubtful Accounts before any adjustments are made at the end of the year. | |||||||
Based on review and aging of its accounts receivable at the end of the year, | |||||||
Hughes estimates that $40,000 of its receivables are uncollectible. | |||||||
The amount of bad debt expense which should be reported for the year is: | |||||||
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