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Compute gk bad debt expense for financial statement purposes

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Reference no: EM132483396

GK Company, a calendar year accrual basis taxpayer, made the following adjustments to its allowance for bad debts this year.

January 1 allowance for bad debts                 $86,100

Actual write-offs of accounts receivable         (77,300)

Addition to allowance at year-end                 90,000

December 31 allowance for bad debts              $98,800

Question a. Compute GKs bad debt expense for financial statement purposes'

Question b. Compute GK's tax deduction for bad debts.

Reference no: EM132483396

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