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I need help with this question, my answer was wrong Crane Inc. has evaluated its process of calculating estimates of uncollectible accounts receivable. In the
I need help with this question, my answer was wrong
Crane Inc. has evaluated its process of calculating estimates of uncollectible accounts receivable. In the past, Crane calculated the Bad Debt Expense as a percentage of sales. It recorded Bad Debt Expense at 1% of sales. Due to changes in the economic conditions, Crane will increase that percentage to 3%. The change is made on January 1, 2025. Sales in 2023 were $1630000 and $3130000 in 2024 . Sales in 2025 total $4130000. What is the Bad Debt Expense that Crane will record for 2025 ? \begin{tabular}{|l|} \hline$159100 \\ $217800 \\ $41300 \\ $123900 \end{tabular}Step by Step Solution
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