Gamma Corporation had a balance in its Allowance for Doubtful Accounts of $30,000 at January...
50.1K
Verified Solution
Link Copied!
Question
Accounting
Gamma Corporation had a balance in its Allowance for Doubtful Accounts of $30,000 at January 1 , 2022 for Accounts Receivable of $600,000. During the year, Gamma wrote off $21,600 of accounts receivable and collected $6,300 on accounts previously written off. The balance in Accounts Receivable at December 31,2022 , was $720,000. At year-end, Gamma estimate that 5% of Accounts Receivable will be uncollectible. . What is the amount of bad debt expense Gamma Corporation will recognize for 2022? $36,000 $6,000 $21,300 $9,300
Get Answers to Unlimited Questions
Join us to gain access to millions of questions and expert answers. Enjoy exclusive benefits tailored just for you!
Membership Benefits:
- Unlimited Question Access with detailed Answers
- Zin AI - 3 Million Words
- 10 Dall-E 3 Images
- 20 Plot Generations
- Conversation with Dialogue Memory
- No Ads, Ever!
- Access to Our Best AI Platform: Flex AI - Your personal assistant for all your inquiries!
Other questions asked by students
StudyZin's Question Purchase
1 Answer
$0.99
(Save $1 )
One time Pay
- No Ads
- Answer to 1 Question
- Get free Zin AI - 50 Thousand Words per Month
Best
Unlimited
$4.99*
(Save $5 )
Billed Monthly
- No Ads
- Answers to Unlimited Questions
- Get free Zin AI - 3 Million Words per Month
*First month only
Free
$0
- Get this answer for free!
- Sign up now to unlock the answer instantly
You can see the logs in the Dashboard.