Swan inc is an accural basis taxpayer. swan uses the aging, Ask an Expert

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Swan Inc is an accural basis taxpayer. Swan uses the aging approach to calculate the reserve for bad debts. During 2010, the following occur associated with bad debts:

Credit sales 300,000

Collection on credit sales 280,000

Amount added to the reserve 12,000

Beginning Reserve Balance 0

Identifible bad debt during 2010 10,000

What is the amount for bad debt expense?

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Accounting Basics, Accounting

Category:- Accounting Basics
Reference No.:- M9431512

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