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What is the amount of Bad Debt Expense for the year?

What is the amount of Bad Debt Expense for the year?

FINANCIAL ACCOUNTING
FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Question 4 Maple Co. provides for bad debts expense at the rate of 5.72% of ending Accounts Receivable. On Jan 1, 20X1, the Allowance for Bad Debts was $18,000. There were $16,000 of accounts written off during the year. Credit sales for the year were $640,000. Ending Accounts Receivable was $115,000. What is the amount of Bad Debt Expense for the year? Enter your response as a whole number, no commas and no dollar signs. Your Answer:
Transcribed Image Text:Question 4 Maple Co. provides for bad debts expense at the rate of 5.72% of ending Accounts Receivable. On Jan 1, 20X1, the Allowance for Bad Debts was $18,000. There were $16,000 of accounts written off during the year. Credit sales for the year were $640,000. Ending Accounts Receivable was $115,000. What is the amount of Bad Debt Expense for the year? Enter your response as a whole number, no commas and no dollar signs. Your Answer:
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