Explain the balances in accounts receivable and allowance, Accounting Basics

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Explain the balances in accounts receivable and allowance

On December 31, 2012, Larry's Used Cars had balances in Accounts Receivable and Allowance for Uncollectible Accounts of $68,000 and $1,150 respectively. During 2013, Larry's wrote off $2,125 in accounts receivable and determined that there should be an allowance for uncollectible accounts of $5,450 at December 31, 2013. Bad debt expense for 2013 would be?

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Accounting Basics: Explain the balances in accounts receivable and allowance

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Accounting Basics: Explain the balances in accounts receivable and allowance

Reference No:- TGS0686371

Have a Question? (oR Write a Review)

Recent Questions Asked Accounting Basics

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Request for Solution File

Ask an Expert for Answer!!

Accounting Basics: Explain the balances in accounts receivable and allowance

Reference No:- TGS0686371

Recent Questions Asked Accounting Basics

Q : Scientific research from the university

Q : The accounting information system

Q : The company invest in and why

Q : Determine the retained earnings statement for the year

Q : Explain the balances in accounts receivable and allowance

Q : Calculate the adjusting entry to record bad debts

Q : What is the current yield on the bonds

Q : Prepare a budget report based on flexible budget

Q : Compute the break-even number of barrels

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