For the year ended december 31 2007 mays bad debt expense, Ask an Expert

Accounting

May Co. prepared an aging of its accounts receivable at December 31, 2007 and determined that the net realizable value of the receivables was $300,000. Additional information is available as follows:

Allowance for uncollectible accounts at 1/1/07-credit balance: $ 34,000
Accounts written off as uncollectible during 2007: 23,000
Accounts receivable at 12/31/07: 325,000
Uncollectible accounts recovered during 2007: 5,000

For the year ended December 31, 2007, May's bad debt expense would be:

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Accounting Basics, Accounting

Category:- Accounting Basics
Reference No.:- M987170

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