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Information on Hohenberger Company for 2021 follows: Total credit sales $1,000,000 Accounts receivable at December 31 40,000 Uncollectible accounts written off 17,500 Amount collected on

Information on Hohenberger Company for 2021 follows:

Total credit sales $1,000,000
Accounts receivable at December 31 40,000
Uncollectible accounts written off 17,500
Amount collected on accounts previously written off (after write off but before year end) 2,500

Assume that Hohenberger Company decides to estimate its uncollectible accounts using the allowance method and an aging schedule. Uncollectible accounts are estimated to be $24,000. What amount of bad debt expense will Hohenberger Company record if Allowance for Doubtful Accounts had an opening balance of $20,000 on January 1, 2021?

Bad debt expense $

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Assume that Hohenberger Company decides to estimate its uncollectible accounts using the allowance method and estimates its bad debt expense at 2.25% of credit sales. What amount of bad debt expense will Hohenberger Company record if Allowance for Doubtful Accounts had an opening balance of $20,000 on January 1, 2021?

Bad debt expense $

eTextbook and Media

Assume the same facts as in part (a) except that the Allowance for Doubtful Accounts had a $12,000 balance on January 1, 2021. What amount of bad debt expense will Hohenberger record on December 31, 2021?

Bad debt expense $

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