Solution-What amount should be reported as bad debt expense

What amount should be reported as bad debt expense

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Reference no: EM133133353

Question - At the end of 20X1, Chadam Co. had an ending balance in allowance for doubtful accounts for $40,000. During 20X2, Chadam wrote-off $50,000 of accounts receivable. At the end of 20X2, Chadam had $400,000 in accounts receivable and determined that 8% of these would be uncollectible. What amount should be reported as bad debt expense on Chadam's 20X2 income statement?

Reference no: EM133133353

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What amount should be reported as bad debt expense

Reference no: EM133133353

Reference no: EM133133353

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