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What is the estimated bad debt expense for current year

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Question 1: Wheeling Inc. uses the aging of accounts receivable method. Its estimate of uncollected receivables resulting from the aging analysis equals $5,200. At the end of the year, the balance of Accounts Receivable is $102,000 and the un-adjusted debit balance of the Allowance for Doubtful Accounts is $540. Credit sales during the year totaled $154,000. What is the estimated Bad Debt Expense for the current year?

Multiple Choice

$5,740
$7,240
$4,660
$5,200

 

Reference no: EM132513358

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