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How much bad debts expense will be recognize on income

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Problem 1: On January 1, 2019 Your Company had a $8,500 balance in the Accounts Receivable account and a zero balance in the Allowance for Doubtful Accounts account. During the year, Your Company provided $65,000 of service on account. The company collected $37,000 cash from account receivable. Bad debts are estimated to be 4% of sales on account. How much bad debts expense will be recognize on the 2019 income statement?

a) 2600
b) 1460
c) 1480
d) 2940

Reference no: EM132718679

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