Problemon december 31 of the current year a companys, Ask an Expert

Accounting

Problem:

On December 31 of the current year, a company's unadjusted trial balance included the following: Accounts Receivable, debit balance of $93,230; Allowance for Doubtful Accounts, credit balance of $1,305.

Required:

Question: What amount should be debited to Bad Debts Expense, assuming 5% of outstanding accounts receivable at the end of the current year are considered uncollectible?

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Accounting Basics, Accounting

Category:- Accounting Basics
Reference No.:- M91165515

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