Blue Corp. has outstanding accounts receivable totaling $3.37 million as of December 31 and sales on credit during the year of $7.60 million. There is a debit balance of $7300 in the allowance for doubtful accounts. If the company estimates that 2% of its accounts receivable will be uncollectible, what will be the balance in allowance for doubtful accounts after the year-end adjustment to record bad debt expense? O $67400. O $67254. O $60100. O $74700

Blue Corp. has outstanding accounts receivable totaling $3.37 million as of December 31 and sales on credit during the year of $7.60 million. There is a debit balance of $7300 in the allowance for doubtful accounts. If the company estimates that 2% of its accounts receivable will be uncollectible, what will be the balance in allowance for doubtful accounts after the year-end adjustment to record bad debt expense? O $67400. O $67254. O $60100. O $74700

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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