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Hello, I need help to solve step by step. I know the answer on the...

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Accounting

Hello, I need help to solve step by step. I know the answer on the below, so please help me to understand it. Thank you! Testbank Multiple Choice Question 110 Bramble Corp. had a 1/1/20 balance in the Allowance for Doubtful Accounts of $40500. During 2020, it wrote off $29000 of accounts and collected $8000 on accounts previously written off. The balance in Accounts Receivable was $860000 at 1/1 and $970000 at 12/31. At 12/31/20, Bramble estimates that 6% of accounts receivable will prove to be uncollectible. What is Bad Debt Expense for 2020? Correct answer: $38700

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