Question

EDGAR, the Electronic Data Gathering, Analysis, and Retrieval system, performs automated collection, validation, indexing, and forwarding of submissions by companies and others who are required by law to file forms with the U.S. Securities and Exchange Commission (SEC). All publicly traded domestic companies use EDGAR to make the majority of their filings. (Some foreign companies file voluntarily). Form 10-K or 10-KSB, which include the annual report, is required to be filed on EDGAR. The SEC makes this information available on the Internet.
Required:
What is the amount of gross trade accounts receivable at the end of the year? What is the amount of bad debt expense for the year?

Answer 1

Answer:

The amount for gross trade account receivable is $520

The amount for bad debt expense is $144

Explanation:

The gross amount receivable is total receivable amount from the sales made. In the given scenario the amount receivable for the year is $443 plus the provisions made at the end of the year. The gross receivable is $520.