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olya-2409 [2.1K]
3 years ago
7

Age Group Amount Estimated Percent Uncollectible Estimated Allowance 0–30 days $ 420,000 2 % $ 8,400 31–60 days 140,000 5 % 7,00

0 61–120 days 100,000 10 % 10,000 Over 120 days 120,000 20 % 24,000 Allowance for uncollectible accounts $ 49,400 The company has a pre-adjustment credit balance of $5,000 in its Allowance for Uncollectible Accounts at December 31, Year 2. Using the balance sheet approach, what amount of Bad Debt Expense should Glenview report for Year 2?
Business
1 answer:
grin007 [14]3 years ago
3 0

Answer:

Bad debts expenses for the year                                                           $ 44,400                          

Explanation:

Computation of Bad debts expenses for the year

Estimated uncollectible accounts based on ageing of receivable       $ 49,400

Pre adjustment credit balance-allowance for uncollectible account    <u>$   5,000</u>

Bad debts expenses for the year                                                           $ 44,400                          

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