Upon completing an aging analysis of accounts receivable, the accountant for Rosco Works prepared an...
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Accounting
Upon completing an aging analysis of accounts receivable, the accountant for Rosco Works prepared an aging of accounts receivable and estimated that $6,500 of the $99,500 accounts receivable balance would be uncollectible. The allowance for doubtful accounts had a $550 debit balance at year-end prior to adjustment. What is the amount of bad debt expense?
Multiple Choice
$550.
$5,950.
$6,500.
$7,050.
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