A, B, C, D P9.2A (L0 2) Writing Information related to...
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Accounting
A, B, C, D
P9.2A (L0 2) Writing Information related to Mingenback Company for 2020 is summarized below. Total credit sales Accounts receivable at December 31 Bad debts written off $2,500,000 875,000 33,000 Instructions a. What amount of bad debt expense will Mingenback Company report if it uses the direct write-off method of accounting for bad debts? b. Assume that Mingenback Company estimates its bad debt expense based on 6% of accounts receiv- e. Assume the same facts as in (b), except that there is a $3,000 debit balance in Allowance for Doubtful d. What is the weakness of the direct write-off method of reporting bad debt expense? able. What amount of bad debt expense will Mingenback record if it has an Allowance for Doubtful Accounts credit balance of $3,000? Accounts. What amount of bad debt expense will Mingenback record
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