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What amount should oriole record as bad debt expense

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Reference no: EM132708558

The following information is available for Oriole Company:

Allowance for doubtful accounts at December 31, 2019                  $25900

Credit sales during 20201                                                             220000

Accounts receivable deemed worthless and written off during 2020      28000

Problem 1: As a result of a review and aging of accounts receivable in early January 2021, it has been determined that an allowance for doubtful accounts of $15500 is needed at December 31, 2020. What amount should Oriole record as "bad debt expense" for the year ended December 31, 2020?

Option 1: $13400

Option 2: $15500

Option 3: $17600

Option 4: $41400

Reference no: EM132708558

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