Corp uses the allowance method to account for uncollectible receivables. At the beginning of the year, Allowance for Bad Debts had a credit balance of $1,300. During the year, Corp wrote off uncollectible receivables of $2,500. Corp recorded a Bad Debts Expense of $3,500. What is Corp's year-end balance in Allowance for Bad Debts?
Corp uses the allowance method to account for uncollectible receivables. At the beginning of the year, Allowance for Bad Debts had a credit balance of $1,300. During the year, Corp wrote off uncollectible receivables of $2,500. Corp recorded a Bad Debts Expense of $3,500. What is Corp's year-end balance in Allowance for Bad Debts?
Chapter9: Accounting For Receivables
Section: Chapter Questions
Problem 4PB: Bristax Corporation recorded $1,385,660 in credit sales for the year, and $732,410 in accounts...
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Transcribed Image Text:Corp uses the allowance method to account for uncollectible receivables.
At the beginning of the year, Allowance for Bad Debts had a credit
balance of $1,300. During the year, Corp wrote off uncollectible
receivables of $2,500. Corp recorded a Bad Debts Expense of $3,500.
What is Corp's year-end balance in Allowance for Bad Debts?
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