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What is the amount of bad debt expense

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Q1. Alicia Corporation was established on 1/1/2011. The ending balance of Allowance for doubtful account was $2,000 on 12/31/2011. During 2012, the company experienced the following:

Beginning balance of Accounts receivable account was $50,000

Credit sales $100,000

Collections on credit sales $60,000

Aging analysis of accounts deemed uncollectible at 12/31/2012 shows $8,000 of potentially uncollectible accounts.

No accounts receivable was determined to be uncollectible during 2012.

What is Alicia's net book value of accounts receivable on January 1, 2013?

a. $100,000

b. $32,000

c. $82,000

d. $40,000

e. $90,000

Q2. Assuming that Alicia uses the aging approach to estimate uncollectible accounts, what is the amount of bad debt expense for 2012?

a. $6,000

b. $7,000

c. $8,000

d. $9,000

e. $12,000

Reference no: EM133013016

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