Question: Question 10 Mark this question Consider the following information regarding the company's history: Accounts Receivables total$950,000 Estimates show that 4% of its receivables will be

Question 10

Mark this question

Consider the following information regarding the company's history:

  • Accounts Receivables total$950,000
  • Estimates show that 4% of its receivables will be uncollectible
  • No balance in the Allowance account

Using the allowance method, what is the correct amount of a company's bad debt expense for the year, given the above information?

  • $42,750
  • $36,480
  • $39,520
  • $38,000

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