Question: The data presented below for Pharma Corp. is for the year ended December 31, 2015: Sales (100% on credit) 1,400,000 sales returns 30,000 Acct receive

The data presented below for Pharma Corp. is for the year ended December 31, 2015: Sales (100% on credit) 1,400,000 sales returns 30,000 Acct receive (Dec 31,2015) 170,000 allow for doubtful acct (credit balance before adjustment at Dec 31, 2015) 1,300 estimated amount of uncollectible accts based on aging analysis 14,000. If Pharma Corp. estimates its bad debts at 1% of net credit sales, what amount will be reported as bad debt expense for 2015?

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