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Question - Hopper Inc. follows the balance sheet approach in preparing its allowance for doubtful accounts (AFDA). The opening AFDA balance as at January 1, 20X3, was a credit of $8,700. During the 20X3 fiscal year, a total of $7,860 was written off as uncollectable for the year and a total of $650 in previously written-off accounts was recovered. Hopper has the following accounts receivable balances as at December 31, 20X3, including a breakdown of the percentage estimated by management to be uncollectable: Days outstanding Balance % estimated to be uncollectable 0-30 days $480,520 0.5% 31-60 days 187,600 1.8% 61-90 days 77,250 2.5% Greater than 90 days 38,760 4.5% What is the total amount of bad debt expense that Hopper needs to record for the December 31, 20X3, fiscal year?
a) $7,965
b) $8,615
c) $9,455
d) $10,945
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