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In 2020, Marg's Antiques claimed a reserve for doubtful debts of $12,000. During 2021, she had actual bad debt write-offs of $12,500 and recoveries
In 2020, Marg's Antiques claimed a reserve for doubtful debts of $12,000. During 2021, she had actual bad debt write-offs of $12,500 and recoveries of previously written off debts of $1,500. At the end of 2021, she claimed a reserve for doubtful debts of $14,000. Marg's 2021 net deduction for bad debts would be:
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Financial and Managerial Accounting
Authors: Jonathan E. Duchac, James M. Reeve, Carl S. Warren
11th Edition
9780538480901, 9781111525774, 538480890, 538480904, 1111525773, 978-0538480895
