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How much is flyer bad debt expense

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Reference no: EM131722079

Question - Flyer Company has provided the following information prior to any year-end bad debt adjustment:

  • Cash sales, $150,000
  • Credit sales, $450,000
  • Selling and administrative expenses, $110,000
  • Sales returns and allowances, $30,000
  • Gross profit, $490,000
  • Accounts receivable, $110,000
  • Sales discounts, $14,000
  • Allowance for doubtful accounts credit balance, $1,200

Flyer estimates bad debt expense assuming that 1.5% of credit sales have historically been uncollectible. How much is Flyer's bad debt expense?

$6,750.

$7,800.

$5,550.

$7,950.

Reference no: EM131722079

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