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Just want to make sure Flyer Company has provided the following information prior to any year-end bad debt adjustment: Cash sales, $150,000 Credit sales, $450,000
Just want to make sure
Flyer Company has provided the following information prior to any year-end bad debt adjustment: Cash sales, $150,000 Credit sales, $450,000 Selling and administrative expenses, $110,000 Sales returns and allowances, S30.000 Gross profit, $490,000 Accounts receivable, $110,000 Sales discounts, $14,000 .Allowance for doubtful accounts credit balance, $1,200 Flyer prepares an aging of accounts receivable and the result shows that 5% of accounts receivable is estimated to be uncollectible. How much is bad debt expense? O A. $4,250 O B. $4,300 C.$5,500 O D. $6,700Step by Step Solution
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