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Determine the amount of the deduction for bad debt expense

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Question - Swan, Inc. is an accrual basis taxpayer. Swan uses the aging approach to calculate the reserve for bad debts. During 2010, the following occur associated with bad debts.

Credit sales $300,000

Collections on credit sales 280,000

Amount added to the reserve 12,000

Beginning balance in the reserve -0-

Identifiable bad debts during 2010 10,000

The amount of the deduction for bad debt expense for Swan for 2010 is:

a. $10,000.

b. $12,000.

c. $20,000.

d. $22,000.

e. None of the above.

Reference no: EM131785133

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