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Maine Corporations unadjusted trial balance includes the following balances (assume normal balances): Accounts Receivable $850,000 Allowance for Doubtful Accounts 18,000 Bad debts are estimated to
Maine Corporations unadjusted trial balance includes the following balances (assume normal balances):
Accounts Receivable $850,000
Allowance for Doubtful Accounts 18,000
Bad debts are estimated to be 5% of outstanding receivables. What amount of bad debt expense will the company record?
Select one: a. $18,000 b. $42,500 c. $41,600 d. $24,500
Maine Corporations unadjusted trial balance includes the following balances (assume normal balances):
Accounts Receivable $850,000
Allowance for Doubtful Accounts 18,000
Bad debts are estimated to be 5% of outstanding receivables. What amount of bad debt expense will the company record?
Select one:
a. $18,000
b. $42,500
c. $41,600
d. $24,500
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