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On its recent financial statements, Hassell Fine Foods reported the following information about net sales revenue and accounts receivable (amounts in thousands): Current Year Prior
On its recent financial statements, Hassell Fine Foods reported the following information about net sales revenue and accounts receivable (amounts in thousands): Current Year Prior Year Accounts receivable, net of allowances of $333 and $297 Net revenues $15,389 S 13,138 64,920 55,622 According to its Form 10-K, Hassell recorded bad debt expense of $124 and did not reinstate any previously written-off accounts during the current year. (Hint: Refer to the summary of the effects of accounting for bad debts on the Accounts Receivable (Gross) and the Allowance for Doubtful Accounts T-accounts. Use the T-accounts to solve for the missing values.) Required: 1. What amount of bad debts was written off during the current year? (Enter your answers in thousands not in dollars.) Allowance for Doubtful Accounts Beg. bal. End. bal
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