During 2024, Hoosier Inc. had credit sales of $300,000. Cash collections on credit sales during 2024 totaled $80,000. and the company estimates uncollectible accounts to be 6% of accounts receivable. The December 31, 2023 balance in the Allowance for Uncollectible Accounts was $10,000 (negative, DEBIT balance). What amount of bad debt expense was recorded at December 31, 2024? O $23,200 O $3,200 O $28,000 O $13,200
During 2024, Hoosier Inc. had credit sales of $300,000. Cash collections on credit sales during 2024 totaled $80,000. and the company estimates uncollectible accounts to be 6% of accounts receivable. The December 31, 2023 balance in the Allowance for Uncollectible Accounts was $10,000 (negative, DEBIT balance). What amount of bad debt expense was recorded at December 31, 2024? O $23,200 O $3,200 O $28,000 O $13,200
Chapter1: Making Economics Decisions
Section: Chapter Questions
Problem 1QTC
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![During 2024, Hoosier Inc. had credit sales of $300,000. Cash collections on credit sales during 2024 totaled $80,000.
and the company estimates uncollectible accounts to be 6% of accounts receivable.
The December 31, 2023 balance in the Allowance for Uncollectible Accounts was $10,000 (negative, DEBIT balance).
What amount of bad debt expense was recorded at December 31, 2024?
O $23,200
O $3,200
O $28,000
O $13,200](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2Fbb42672c-0a3b-40fc-b318-b92a555b6760%2F8e28781f-bf4b-4bbc-8cef-ee40a0b253a3%2F16ckcg_processed.jpeg&w=3840&q=75)
Transcribed Image Text:During 2024, Hoosier Inc. had credit sales of $300,000. Cash collections on credit sales during 2024 totaled $80,000.
and the company estimates uncollectible accounts to be 6% of accounts receivable.
The December 31, 2023 balance in the Allowance for Uncollectible Accounts was $10,000 (negative, DEBIT balance).
What amount of bad debt expense was recorded at December 31, 2024?
O $23,200
O $3,200
O $28,000
O $13,200
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