As of January 1, 2021, Wildcat Corporation had a credit balance of $535,000 in its allowance for

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As of January 1, 2021, Wildcat Corporation had a credit balance of $535,000 in its allowance for uncollectible accounts.

Based on experience, 2% of Wildcat's accounts receivable balance have been uncollectible.

During 2021, Wildcat wrote off $665,000 of accounts receivable. Wildcat's accounts receivable balance at December 31, 2021 is $18,750,000.
Required:

How much bad debt expense should Wildcat record for 2021?

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A Pathway to Introductory Statistics

ISBN: 978-0134310039

1st edition

Authors: Jay Lehmann

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Posted Date: Mar 30, 2022 03:14 AM

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As of January 1, 2021, Wildcat Corporation had a credit balance of $535,000 in its allowance for

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Wildcat started 2021 with a credit balance of 535000 in its all... View the full answer

A Pathway to Introductory Statistics

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