At December 31, ABC Company had account balances in Accounts Receivable of $305,000 and in...
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Accounting
At December 31, ABC Company had account balances in Accounts Receivable of $305,000 and in Allowance for Uncollectible Accounts of $920 (credit) before any adjustments. An analysis of ABC Company's December 31 accounts receivable suggests that the allowance for uncollectible accounts should be 2% of accounts receivable. Bad debt expense for the year should be: Multiple Choice $4,881. $6,100. $7,020. $5,180.
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