At 12/30/20, ABC Corp. had a balance of $113,000 in its A/R account, and $4,000...
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At 12/30/20, ABC Corp. had a balance of $113,000 in its A/R account, and $4,000 (credit) in its ADA account. 2020 net sales totaled $1,000,000. On the following day, 12/31/20, ABC prepared an aging analysis which showed a total estimated uncollectible amount of $11,000. How much will be debited to Bad Debt Expense on 12/31/20?
a) $11,000 b) $7,000 c) $14,000 d) $10,000
At 12/30/20, ABC Corp. had a balance of $113,000 in its A/R account, and $4,000 (credit) in its ADA account. 2020 net sales totaled $1,000,000. On the following day, 12/31/20, ABC prepared an aging analysis which showed a total estimated uncollectible amount of $11,000. How much will be debited to Bad Debt Expense on 12/31/20?
a) $11,000 b) $7,000 c) $14,000 d) $10,000
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