Modern office has 2534483 of credit sales for the year and 43990 of outstanding account receivable and 956 balance of allowance for doubtful account(AFDA) on December 31. Modern Office estimates that either 0.1% of credit sales or 8% or outstanding account receivable will not be collectible and wants to set up an AFDA. How much is bad debt expense for the year under the Percentage of Sales (Income Statement) Approach? ENTER NUMBERS ONLY, DECIMAL IS ALLOWED

Answer rating: 100% (QA)

Answer i To determine bad debt expense for the year the following information is giv... View the full answer