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What will concord record as bad debt expense

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Question

The records of Concord Company at the end of the current year shows Accounts Receivable $85,400; Credit Sales $833,970; and Sales Returns and Allowances $36,680.

(a) If Concord uses the direct write-off method to account for uncollectible accounts and Concord determines that Matisse's $949 balance is uncollectible, what will Concord record as bad debt expense?

Bad debt expense$

(b) If Allowance for Doubtful Accounts has a balance of $1,206 and Concord concludes bad debts are expected to be 9% of accounts receivable, what will Concord record as bad debt expense?

Bad debt expense$

Reference no: EM132323146

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