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Linda has the following information for 2020: credit sales of $200,000, beginning accounts receivable of $30,000, ending accounts receivable of $40,000, and beginning allowance for
Linda has the following information for 2020: credit sales of $200,000, beginning accounts receivable of $30,000, ending accounts receivable of $40,000, and beginning allowance for doubtful accounts of $1,000. During the year, Linda wrote off $700 of uncollectible accounts receivable.
If Linda records recognizes bad debt expense as 3% of ending accounts receivables, how much should her bad debt expense be for 2020?
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