Suppose that the balance of a company's Allowance for Uncollectible Accounts was $6,200 (credit) at the...
Suppose that the balance of a company's Allowance for Uncollectible Accounts was $6,200 (credit) at the end of the year, prior to any adjustments. The company estimated that the total of uncollectible accounts in its accounts receivable was $44,300 at the end of the year. What amount of bad debt expense would appear in the company's year-end income statement?
Homework Answers
Answer: $38,100
Calculations:
| Total Estimated Uncollectible accounts at the end of the year | $44,300 |
| (Less): Balance in Allowance for uncollectible accounts prior to adjustments (Cr.) | ($6,200) |
| Bad debt expense | $38,100 |
Thus, $38,100 of bad debt expense would appear in the company's year-end income statement
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