Cook Co. determined that the net value of its accounts receivable at December 31, year 5, based
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Question:
Cook Co. determined that the net value of its accounts receivable at December 31, year 5, based on the aging of the receivables, was $235,000. Additional information is as follows:
Allowance for doubtful accounts – 1/1/year 5 | $ | 40,000 |
Uncollectible accounts are written off during year 5 | $ | 22,000 |
Uncollectible accounts recovered during year 5 | $ | 8,000 |
Accounts receivable on 12/31/year 5 | $ | 270,000 |
How much was recognized as a bad debt expense?
Related Book For
Financial Accounting
ISBN: 9781618533111
6th Edition
Authors: Michelle L. Hanlon, Robert P. Magee, Glenn M. Pfeiffer, Thomas R. Dyckman
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