In 2019, Marg's Antiques deducted a reserve for doubtful debts of $12,000. During 2020, she...
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Accounting
In 2019, Marg's Antiques deducted a reserve for doubtful debts of $12,000. During 2020, she had actual write-offs of $12,500 and recoveries of previously written off debts of $1,500. At the end of 2020, she deducted a reserve for doubtful debts of $14,000. Marg's 2020 net deduction for bad debts would be:
Question 1 options:
|
| $11,000 |
|
| $12,500 |
|
| $14,000 |
|
| $13,000 |
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