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Ratling [72]
2 years ago
13

On December 31, 2021, Coolwear Inc. had balances in Accounts Receivable and Allowance for Uncollectible Accounts of $48,000 and

$1,400, respectively. During 2022, Coolwear wrote off $625 in accounts receivable and determined that there should be an allowance for uncollectible accounts of $4,100 at December 31, 2022. Bad debt expense for 2022 would be:
Business
1 answer:
Reil [10]2 years ago
6 0

Answer:

$3,325

Explanation:

Bad Debt Expense = Allowance for uncollectible accounts 2022 - (Allowance for uncollectible accounts 2021 - Written off in accounts receivable

Bad Debt Expense = $4,100 - ($1,400 - $625)

Bad Debt Expense = $4,100 - $775

Bad Debt Expense = $3,325

So, the bad debt expense for 2022 would be $3,325.

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