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Problem 8-2A Information related to Mingenback Company for 2015 is summarized below. Total credit sales Accounts receivable at December 31 Bad debts written off $2,471,000
Problem 8-2A Information related to Mingenback Company for 2015 is summarized below. Total credit sales Accounts receivable at December 31 Bad debts written off $2,471,000 832,000 33,200 (a) What amount of bad debt expense will Mingenback Company report if it uses the direct write-off method of accounting for bad debts? (b) Assume that Mingenback Company estimates its bad debt expense to be 3% of credit sales. What amount of bad debt expense will Mingenback record if it has an Allowance for Doubtful Accounts credit balance of $3,900? $ Assume that Mingenback Company estimates its bad debt expense based on 6% of accounts receivable. What amount of bad debt expense will Mingenback record if it has an Allowance for Doubtful Accounts credit balance of $2,800? $L (d) Assume that Mingenback Company estimates its bad debt expense based on 6% of accounts receivable. What amount of bad debt expense will Mingenback record if it has an Allowance for Doubtful Accounts debit balance of $2,800? $
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