Question
On December 31, 2018, Coolwear Inc. had balances in Accounts Receivable and Allowance for Uncollectible Accounts of $42,000 and $1,600, respectively. During 2019, Coolwear wrote
On December 31, 2018, Coolwear Inc. had balances in Accounts Receivable and Allowance for Uncollectible Accounts of $42,000 and $1,600, respectively. During 2019, Coolwear wrote off $725 in accounts receivable and determined that there should be an allowance for uncollectible accounts of $4,700 at December 31, 2019. Bad debt expense for 2019 would be: $3,325. $725. $7,025. $3,825.
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Principles Of Auditing And Other Assurance Services
Authors: Ray Whittington, Kurt Pany
21st Edition
978-1259916984
