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Question Help O A 57,965 B. $9,455 C. $8,615 OD. $10,945 Hopper Inc. follows the balance sheet approach in preparing its allowance for doubtful accounts
Question Help O A 57,965 B. $9,455 C. $8,615 OD. $10,945 Hopper Inc. follows the balance sheet approach in preparing its allowance for doubtful accounts (AFDA). The opening AFDA balance as at January 1, 20X3, was a credit of $8,700. During the 20x3 fiscal year, a total of $7,860 was written off as uncollectable for the year and a total of $650 in previously written-off accounts was recovered Hopper has the following accounts receivable balances as at December 31, 20X3, including a breakdown of the percentage estimated by management to be uncollectable: Days outstanding Balance % estimated to be uncollectable 0 - 30 days $480,520 0.5% 31-60 days 187, 600 1.8% 61 - 90 days 77,250 2.5% 90 days 38,760 4.5% What is the total amount of bad debt expense that Hopper needs to record for the December 31, 20X3, fiscal year? Round to the nearest dollar
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