Logs logging Company has the following accounts receivable outstanding. The company's unadjusted balance (normal) in the Allowance

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Logs logging Company has the following accounts receivable outstanding.

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The company's unadjusted balance (normal) in the Allowance for Doubtful Accounts (after write-offs) is $4,200.

What is the bad debt expense for the year?

Related Book For answer-question

Intermediate Accounting IFRS

ISBN: 978-1119372936

3rd edition

Authors: Donald E. Kieso, Jerry J. Weygandt, Terry D. Warfield

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Posted Date: Aug 16, 2023 02:06 AM

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Logs logging Company has the following accounts receivable outstanding. The company's unadjusted balance (normal) in the Allowance

Question:

Amount Estimated percentage uncollectible Number of Days Past Due 121- 180 $115,400 $72,550 $437,950 Less than 90 90-120 $250,000 1% 3% 6% Total Amount Estimated percentage uncollectible Number of Days Past Due 121- 180 $115,400 $72,550 $437,950 Less than 90 90-120 $250,000 1% 3% 6% Total

Expert Answer:

To calculate the bad debt expense for the year we need to use the aging method to estim... View the full answer

Intermediate Accounting IFRS

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