At December 31, Basu's Appliances had account balances in Accounts Receivable of $318,000 and in Allowance for Uncollectible Accounts of $630 (credit) before adjustment. An analysis of Basu's December 31 accounts receivable suggests that the allowance for uncollectible accounts should be 4% of accounts receivable. Bad debt expense for the year should be: Multiple Choice $12,720. $13,350. $13,391.

At December 31, Basu's Appliances had account balances in Accounts Receivable of $318,000 and in Allowance for Uncollectible Accounts of $630 (credit) before adjustment. An analysis of Basu's December 31 accounts receivable suggests that the allowance for uncollectible accounts should be 4% of accounts receivable. Bad debt expense for the year should be: Multiple Choice $12,720. $13,350. $13,391.

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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