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What the amount of bad debts expense for the year

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Q1. A trial balance before adjustments included the following: Sales - 425,000; sales returns and allowances - 14,000; accounts receivable - 43,000; Allowance for doubtful accounts -760. If the estimate of uncollectible is made by taking 10% of gross accounts receivable, what the amount of bad debts expense for the year?

a. 4,300

b. 5,060

c. 4,224

d. 3,540

Q2. A trial balance before adjustments included the following: Sales - 425,000; sales returns and allowances - 14,000; accounts receivable - 43,000; Allowance for doubtful accounts -760. If the estimate of uncollectible is made by taking 2% of net sales, what the amount of bad debts expense for the year?

a. 9,740

b. 6,700

c. 8,220

d. 8,500

Reference no: EM133038879

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