Problem: The following information is related to December 31, 2016 balances.
Accounts receivable $3150000
Allowance for doubtful accounts (credit) (270000)
Cash realizable value $2880000
During 2017 sales on account were $870000 and collections on account were $516000. Also during 2017 the company wrote off $48000 in uncollectible accounts. An analysis of outstanding receivable accounts at year end indicated that bad debts should be estimated at $324000. Bad debt expense for 2017 is:
- $102000.
- $54000.
- $324000.
- $6000.
Are you running short on time to draft and submit a good quality assignment paper? Need some guidance to impress your university professors with your academic content? Then approach our Bad Debt Expense Assignment Help tutors and live stress-free!
Tags: Bad Debt Expense Assignment Help, Bad Debt Expense Homework Help, Bad Debt Expense Coursework, Bad Debt Expense Solved Assignments