The following information relates to a companys accounts receivable: accounts receivable balance at the beginning...
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Accounting
The following information relates to a companys accounts receivable: accounts receivable balance at the beginning of the year, $390,000; allowance for uncollectible accounts at the beginning of the year, $28,000 (credit balance); credit sales during the year, $1,400,000; accounts receivable written off during the year, $19,000; cash collections from customers, $1,300,000. Assuming the company estimates that future bad debts will equal 11% of the year-end balance in accounts receivable.
Calculate bad debt expense for the year.
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