Flyer Company has provided the following information prior to any year-end bad debt adjustment: ...
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Accounting
Flyer Company has provided the following information prior to any year-end bad debt adjustment:
- Cash sales, $155,000
- Credit sales, $455,000
- Selling and administrative expenses, $115,000
- Sales returns and allowances, $35,000
- Gross profit, $495,000
- Accounts receivable, $155,000
- Sales discounts, $19,000
- Allowance for doubtful accounts credit balance, $1,700
Flyer prepares an aging of accounts receivable and the result shows that 5% of accounts receivable is estimated to be uncollectible. How much is bad debt expense?
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