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Maple Co. provides for bad debts expense at the rate of 5.26% of ending Accounts Receivable. On Jan 1, 20X1, the Allowance for Bad
Maple Co. provides for bad debts expense at the rate of 5.26% of ending Accounts Receivable. On Jan 1, 20X1, the Allowance for Bad Debts was $8,000. There were $16,000 of accounts written off during the year. Credit sales for the year were $510,000. Ending Accounts Receivable was $135,000. What is the amount of Bad Debt Expense for the year? Enter your response as a whole number, no commas and no dollar signs.
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Cornerstones of Financial and Managerial Accounting
Authors: Rich, Jeff Jones, Dan Heitger, Maryanne Mowen, Don Hansen
2nd edition
978-0538473484, 538473487, 978-1111879044
