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What amount of bad debt expense will swifty record

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Reference no: EM133077765

Question - Information related to Swifty Company for 2020 is summarized below.

Total credit sales $2,500,000

Accounts receivable at December 31 896,000

Bad debts written off 31,600

Required -

(a) What amount of bad debt expense will Swifty Company report if it uses the direct write-off method of accounting for bad debts?

(b) Assume that Swifty Company estimates its bad debt expense based on 6% of accounts receivable. What amount of bad debt expense will Swifty record if it has an Allowance for Doubtful Accounts credit balance of $4,500?

(c) Assume that Swifty Company estimates its bad debt expense based on 6% of accounts receivable. What amount of bad debt expense will Swifty record if it has an Allowance for Doubtful Accounts debit balance of $4,500?

Reference no: EM133077765

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