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UkoKoshka [18]
2 years ago
14

Flyer Company has provided the following information prior to any year-end bad debt adjustment: Cash sales, $161,000 Credit sale

s, $461,000 Selling and administrative expenses, $121,000 Sales returns and allowances, $41,000 Gross profit, $501,000 Accounts receivable, $215,000 Sales discounts, $25,000 Allowance for doubtful accounts credit balance, $2,300 Flyer prepares an aging of accounts receivable and the result shows that 4% of accounts receivable is estimated to be uncollectible. How much is bad debt expense
Business
1 answer:
laila [671]2 years ago
8 0

Answer:

$4,140

Explanation:

Given the above information, we will compute the bad debt expense as;

Bad debt expense

= (Cash sales × 4% of accounts receivables) - Credit balance in allowance for doubtful accounts

= ($161,000 × 4%) - Credit balance in allowance for doubtful accounts

= $6,440 - $2,300

= $4,140

Therefore, the bad debt expense is $4,140

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To learn more about procedures, click here.

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