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

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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