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Lord of the Fries, Inc., has the following account balances at the end of the year before adjustments: Accounts Receivable $70,000 Allowance for Doubtful Accounts
Lord of the Fries, Inc., has the following account balances at the end of the year before adjustments:
Accounts Receivable | $70,000 |
Allowance for Doubtful Accounts | $200 debit balance |
Sales | $700,000 |
Doubtful Accounts Expense | $0 |
Management estimates that 12% of Accounts Receivable will be uncollectible. After the correct adjusting entry has been made, what is total Doubtful Accounts Expense on the income statement for the year?
Do not include $ or negative signs in your answer.
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