Fiyer Company has provided the following information prior to any year-end bad debt adjustment: Cash sales, $159,000
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Fiyer Company has provided the following information prior to any year-end bad debt adjustment: Cash sales, $159,000 Credit sales, $459,000 Selling and administrative expenses, $119,000 Sales returns and allowances, $39,000 Gross profit, $499,000 Accounts receivable, $195,000 Sales discounts, $23,000 Allowance for doubtful accounts credit balance, $2,100 Flyer prepares an aging of accounts receivable and the result shows that 3% of accounts receivable is estimated to be uncollectible. How much is bad debt expense?
- $5,850
- $7,950
- $3,750
- $3,687
Related Book For
Intermediate Accounting
ISBN: 978-0324300987
10th Edition
Authors: Loren A Nikolai, D. Bazley and Jefferson P. Jones
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