What is bad debt expense for ledo inc

Reference no: EM131901878

Problem

Ledo Inc. had a 1/1/18 balance in the Allowance for Doubtful Accounts of $20,000. During 2018, it wrote off $12, 600 of accounts and collected $3, 200 on accounts previously written off. The balance in Accounts Receivable was $400,000 at 1/1 and $485,000 at 12/31. At 12/31/18, Smithson estimates that 8% of accounts receivable will prove to be uncollectible. What is Bad Debt Expense for 2018?

Reference no: EM131901878

Questions Cloud

Confidence in the banking system : Suppose there is a cyberattack on big banks in the United States leading to decline in confidence in the banking system.

What is the current inflation rate and nominal interest rate : a. What is the current inflation rate and nominal interest rate? b. If the money supply growth rate increases to 12 percent, how will your answers in part (a)

Provides a brief commentary of key relevant literature : Demonstrate your knowledge of management research methods and to prepare you for writing your research proposal to meet the requirements of the dissertation

Identify the impact of your contributions to self : Write a paper of 1,250-1,500 words that presents your complete personal model of leadership. The 2 parts involved in creating your personal model of leadership.

What is bad debt expense for ledo inc : Ledo Inc. had a 1/1/18 balance in the Allowance for Doubtful Accounts of $20,000. During 2018, it wrote off $12, 600. What is Bad Debt Expense for 2018?

Why in the absence of government and foreign sectors : Why, in the absence of government and foreign sectors, are saving and investment always equal? How does this change when the government and foreign sectors.

How does the concept of operating leverage impact : How does the concept of operating leverage impact a firm's decision to EITHER employ a small fleet of its own trucks and use U-Haul rentals.

Compute estimated ending inventory and cost of goods sold : Compute estimated ending inventory and cost of goods sold for March applying the conventional retail method.

Write a paper summarizing agile development : Write a paper summarizing agile development versus traditional waterfall development. What are the positives and negatives of each approach?

User Account

All Pages