The following information is available for Joey Company: Allowance for doubtful accounts at December 31,...
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Accounting
The following information is available for Joey Company:
Allowance for doubtful accounts at December 31, 2021 $ 17,000
Credit sales during 2022 2,200,000
Accounts receivable deemed worthless and written off during 2022 32,570
As a result of a review and aging of accounts receivable in early January 2023, it has been determined that an allowance for doubtful accounts of $28,500 is needed at December 31, 2022.
What amount should Joey record as "bad debt expense" for the year ended December 32, 2022?
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You can see the logs in the Dashboard.