Question 19

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Maine Corporations unadjusted trial balance includes the following balances (assume normal balances):

Accounts Receivable $850,000

Allowance for Doubtful Accounts 18,0000

Bad debts are estimated to be 6% of outstanding receivables. What amount of bad debt expense will the company record?

Select one:

a. The answer does not exist

b. $24,500

c. $41,600

d. $18,000

e. $42,500