Question
The following information is taken from the Classic Car Shop records: Accounts receivable, 31 December 2024 $30,000 (debt) 2024 net credit sales 54,000 Accounts deleted
The following information is taken from the Classic Car Shop records:
Accounts receivable, 31 December 2024 | $30,000 (debt) |
2024 net credit sales | 54,000 |
Accounts deleted as non-collectible through 2024 | 4,900 |
Cash sales throughout 2024 | 48,000 |
The company uses direct write-off method for bad debts.
What is the amount of doubtful debt expense?
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Financial Accounting Tools for Business Decision Making
Authors: Jerry J. Weygandt, Paul D. Kimmel, Donald E. Kieso
5th Edition
9781118560952, 1118560957, 978-0470239803
