Solution-What amount of bad debt expense should be reported

What amount of bad debt expense should be reported

Reference no: EM132696902

Problem 1: Austin, Inc. uses the percentage-of-receivables basis to record bad debt expense. At December 31, Austin had account balances in Accounts Receivable of $303,000 and in Allowance for Doubtful Accounts of $620 (credit) before any adjustments. Austin estimates that 6% of accounts receivable are uncollectible. What amount of bad debt expense should be reported?

Reference no: EM132696902

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What amount of bad debt expense should be reported

Reference no: EM132696902

Reference no: EM132696902

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