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The balances in its Accounts Receivable and Allowance for Doubtful Accounts on December 31, 2015 were $55,000 and $6,000 (Credit) respectively. An aging schedule indicated
The balances in its Accounts Receivable and Allowance for Doubtful Accounts on December 31, 2015 were $55,000 and $6,000 (Credit) respectively. An aging schedule indicated that $16,000 of the receivables would prove uncollectible. The amount of bad debts expense that had to be recorded was 1) $10,000.00 2) $6,000.00 3) $55,000.00 4) $16,000.00
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