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sweet [91]
3 years ago
12

On December 31, 2021, Coolwear Inc. had balances in Accounts Receivable and Allowance for Uncollectible Accounts of $47,500 and

$2,000, respectively. During 2022, Coolwear wrote off $650 in accounts receivable and determined that there should be an allowance for uncollectible accounts of $4,300 at December 31, 2022. Bad debt expense for 2022 would be:
Business
1 answer:
olchik [2.2K]3 years ago
8 0

Answer:

Bad debt expense for 2022 would be $2,950.

Explanation:

Bad debt expense for 2022 can be calculated as follows:

Bad debt expense for 2022 = Allowance for uncollectible accounts of  at December 31, 2022 - (Balances in Allowance for Uncollectible Accounts on December 31, 2021 - Accounts receivable written off) = $4,300 - ($2,000 - $650) = $2,950

Therefore, Bad debt expense for 2022 would be $2,950.

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Answer:

b. 240,000

Explanation:

Calculation to determine the total amount of working capital

First step is to calculate the Current assets

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