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The following information pertains to Speedy Co.'s accounts receivable at December 31, 2017: Days Outstanding 0-30 31-60 61-120 Over 120 Amount $420,000 $140,000 $100,000 $120,000
The following information pertains to Speedy Co.'s accounts receivable at December 31, 2017: Days Outstanding 0-30 31-60 61-120 Over 120 Amount $420,000 $140,000 $100,000 $120,000 Estimated % Uncollectible 2% 5% 10% 15% Speedy's accounting records on December 31, 2017, before adjustment, reported a debit balance in the allowance for uncollectible accounts of $2,500. Under the aging method, what amount of Bad Debts Expense should Speedy report in its 2017 income statement? $2,500 $40,900 $43,400 $45,900
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