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The Washington Football Team Co (WFT) uses the balance sheet approach to estimate bad debt expense. WFT estimates the allowance for uncollectible accounts to be

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The Washington Football Team Co (WFT) uses the balance sheet approach to estimate bad debt expense. WFT estimates the allowance for uncollectible accounts to be 15% of the year-end balance of (gross) accounts receivable. On December 31, 2018, WFT reported an accounts receivable balance of $180,000, net of an allowance for doubtful accounts of $25,000 on its balance sheet. During 2019, WFT sold $1,100,000 on credit and collected $1,030,000 in cash related to these sales. WFT wrote off $15,000 in accounts and reinstated accounts that were previously written off for $2,000 (Note: the cash collections related to the reinstatement are not included in the $1,030,000 general cash collections listed). Based on the information provided, what bad debt expense should WFT recognize during 2019 (WFT's fiscal year ends on December 31 )? (1 point)

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