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What amount of bad debt expense would Madison report

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Reference no: EM132726166

Question - The following information pertains to Madison Corp. at the end of the year:

Credit Sales $185,000

Accounts Payable 24,000

Accounts Receivable 37,000

Allowance for Doubtful Accounts 1200? debit????

Required - Madison Corp. uses the percentage-of-sales method and estimates that 9% of the credit sales are uncollectible. After the year-end adjustment, what amount of bad debt expense would Madison report for the year?

Reference no: EM132726166

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