Solved: Amount of bad debt expense for the year, Accounting Basics

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Amount of bad debt expense for the year

Problem: A company producing coffee began the year with an allowance for Bad Debts at $22,000.

During the year, $25,000 of accounts receivable were written off.

The adjusted balance in allowance for Bad Debts on the end-of-year balance sheet was $27,000.

Question: What is the amount of bad debt expense for the year?

Please explain answer in detail.

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Accounting Basics: Amount of bad debt expense for the year

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