Washing Co. has the following information on December 31, 20x1 before any year-end adjustments. Accounts receivable, Jan. 1 Net credit sales Collections from customers (including recoveries) Allowance for doubtful accounts, Jan. 1 Write-offs Recoveries Percentage of receivables 26. How much is the bad debt expense? a. 4,250 b. 4,300 c. 4,550 d. 10,300 5% 80,000 270,000 140,000 10,000 5,000 1,000

FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
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Washing Co. has the following information on December 31, 20x1 before any year-end
adjustments.
Accounts receivable, Jan. 1
Net credit sales
Collections from customers (including recoveries)
Allowance for doubtful accounts, Jan. 1
Write-offs
Recoveries
Percentage of receivables
26. How much is the bad debt expense?
a. 4,250
b. 4,300
c. 4,550
d. 10,300
5%
80,000
270,000
140,000
10,000
5,000
1,000
Transcribed Image Text:Washing Co. has the following information on December 31, 20x1 before any year-end adjustments. Accounts receivable, Jan. 1 Net credit sales Collections from customers (including recoveries) Allowance for doubtful accounts, Jan. 1 Write-offs Recoveries Percentage of receivables 26. How much is the bad debt expense? a. 4,250 b. 4,300 c. 4,550 d. 10,300 5% 80,000 270,000 140,000 10,000 5,000 1,000
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