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What amount represents the bad debt expense

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Question - The following information related to Raymond Co.

Accounts receivable balance - December 31, 2010 $610,000 debit

Allowance for doubtful accounts balance - December 31, 2010 4,000 credit

Credit sales for the year ended December 31, 2010 7,000,000

Accounts receivable written off during 2010 16,500

Assume Raymond Co uses the allowance method to record bad debt expense. Based on experience, the company estimates that 6% of outstanding accounts receivable will be uncollectible. What amount represents the bad debt expense for the year end December 31, 2010?

Reference no: EM132524180

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