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What is the amount of bad debt expense to be reported by GB & Y's financial statements for 1921 using the aging method? Multiple Choice $65,000 $15,000. $50,000 They $80,000 Saved On December 31, 1921, Griffith, Bailey and Young (GB & Y) Auditors has a debit balance of $15,000 for the Allowance for Uncollectible Accounts be- end adjustment. GB & Y also has the following information for its accounts receivable and the estimated percentages of bad debts for different past W Age Group(days past due) 0-30 31-60 61-90 Accounts Receivable $500,000 $200,000 $ 100,000 Estimated Percent Uncollectible 5% 10% 20% What is the amount of bad debt expense to be reported by GB & Y's financial statements for 1921 using the aging method? Multiple Choice $65,000 $15.000 ic Prev 10 of 30 Next >
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