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What amount of bad debt expense will mohan report

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Reference no: EM132826857

Estimating Uncollectible Accounts and Reporting Accounts Receivable

Mohan Company estimates its uncollectible accounts by aging its accounts receivable and applying percentages to various aged categories of accounts. Mohan computes a total of $2,520 in estimated uncollectible accounts as of its current year-end. Its accounts receivable has a balance of $103,200, and its allowance for uncollectible accounts has an unused balance of $840 before any year-end adjustments.

Problem 1: What amount of bad debt expense will Mohan report in its income statement for the current year?

Problem 2: Determine the net amount of accounts receivable reported in current assets at year-end.

Reference no: EM132826857

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