|
Total credit sales
|
$2,557,000
|
|
Accounts receivable at December 31
|
886,000
|
|
Bad debts written off
|
31,200
|
What amount of bad debt expense will Mingenback Company report if it uses the direct write-off method of accounting for bad debts?
Assume that Mingenback Company estimates its bad debt expense to be 3% of credit sales. What amount of bad debt expense will Mingenback record if it has an Allowance for Doubtful Accounts credit balance of $3,500?
Assume that Mingenback Company estimates its bad debt expense based on 5% of accounts receivable. What amount of bad debt expense will Mingenback record if it has an Allowance for Doubtful Accounts credit balance of $2,300?
Assume that Mingenback Company estimates its bad debt expense based on 5% of accounts receivable. What amount of bad debt expense will Mingenback record if it has an Allowance for Doubtful Accounts debit balance of $2,300?