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On Jan. 1, 2021 Bears Inc. had Acct Rec $9,000 and an Allow for Uncollectibles for $900. During the year, Bears made credit sales
On Jan. 1, 2021 Bears Inc. had Acct Rec $9,000 and an Allow for Uncollectibles for $900. During the year, Bears made credit sales of $100,000, Collected $95,000 on account, wrote of $1,000 of receivables. On Dec. 31, Bears estimates Uncollectibles as 10% of the gross receivables. How much is Bad Debt Expense for the year?
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Managerial Accounting
Authors: Karen W. Braun, Wendy M. Tietz
4th edition
978-0133428469, 013342846X, 133428370, 978-0133428377
