Solved: The allowance for bad debts has a credit balance of 9000, Accounting Basics

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The allowance for bad debts has a credit balance of 9000

Problem

The Allowance for Bad Debts has a credit balance of $9,000 before the adjusting entry for bad debt expense. After analyzing the accounts in the accounts receivable subsidiary ledger using the aging method, the company's management estimates that uncollectible accounts will be $15,000. What will be the amount of bad debts expense reported on the income statement?
$24,000
$6,000
$15,000
$9,000.

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Accounting Basics: The allowance for bad debts has a credit balance of 9000

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Accounting Basics: The allowance for bad debts has a credit balance of 9000

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