Saint John Industries uses the percentage of credit sales method to estimate Bad Debt Expense....
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Accounting
Saint John Industries uses the percentage of credit sales method to estimate Bad Debt Expense. The company reported net credit sales of $610,000 during the year. Saint John has experienced bad debt losses of 3% of credit sales in prior periods. At the beginning of the year, Saint John has a credit balance in its Allowance for Doubtful Accounts of $5,100. No write-offs or recoveries were recorded during the year. What amount of Bad Debt Expense should Saint John recognize for the year?
Multiple Choice
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$5,100
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$23,400
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$18,300
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$13,200
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