The following accounts were taken from Splish Brothers Inc.’s unadjusted trial balance at December 31, 2020:     Debit   Credit Sales revenue (all on credit)       $1,030,000 Sales discounts   $21,700     Allowance for doubtful accounts   34,700     Accounts receivable   690,000     If doubtful accounts are 7% of accounts receivable, what is the bad debt expense amount to be reported for 2020? Bad debt expense   $Enter your answer in accordance to the question statement

FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
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The following accounts were taken from Splish Brothers Inc.’s unadjusted trial balance at December 31, 2020:

    Debit   Credit
Sales revenue (all on credit)       $1,030,000
Sales discounts   $21,700    
Allowance for doubtful accounts   34,700    
Accounts receivable   690,000    


If doubtful accounts are 7% of accounts receivable, what is the bad debt expense amount to be reported for 2020?

Bad debt expense   $Enter your answer in accordance to the question statement 
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