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On December 31 of the current year, TechCom's unadjusted trial balance included the following items: Accounts Receivable, debit balance of $107,250; Allowance for Doubtful Accounts,
On December 31 of the current year, TechCom's unadjusted trial balance included the following items: Accounts Receivable, debit balance of $107,250; Allowance for Doubtful Accounts, credit balance of $1,900. What amount should be debited to Bad Debt Expense, assuming 6% of outstanding accounts receivable as of December 31 of the current year, are estimated to be uncollectible? Multiple Choice $2,835 $3,755 $3,755 $4,535 $6,435 $8,335 Selected financial statement data for California Ltd, at its December 31 year end is below: Current Assets Cash Accounts Receivable Inventory Prepaid expenses Total Current Assets Current Liabilities Net Credit Sales 2018 2022 $32,000 $21,750 $247,500 $299,000 $2,762,300 $2,668,425 $6,200 $9,875 $2,141,500 $1,986,000 $3,048,000 $2,999,050 $2,238,000 $2,448,000 California's credit terms are net 30 days. A 2% discount can be taken if the bill is paid within 10 days from the invoice date. In 2018, California collects its accounts receivable Within the 30 days, as required by its credit terms After the 30-day terms passed Within the 10-day discount period More information is needed to answer this question Within the 20 days, as required by its credit term
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