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Question 6 0.5 pts Smithson Corporation had a 1/1/20 balance in the Allowance for Doubtful Accounts of $30,241. During 2020, it wrote off $21,478
Question 6 0.5 pts Smithson Corporation had a 1/1/20 balance in the Allowance for Doubtful Accounts of $30,241. During 2020, it wrote off $21,478 of accounts and collected $6,132 on accounts previously written off. The balance in Accounts Receivable was $600,216 at 1/1 and $724,472 at 12/31. At 12/31/20, Smithson estimates that 5% of accounts receivable will prove to be uncollectible. What is Bad Debt Expense for 2020? *round your final answer to the nearest $1 21,478
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