Using the Allowance Method, the Uncollectible Accounts for the Year

question 176

Multiple Choice

Using the allowance method, the uncollectible accounts for the year is estimated to be $56,000. If the balance for the Allowance for Doubtful Accounts is a $14,000 credit before adjustment, what is the amount of bad debts expense for the period?

• A) $14,000
• B) $42,000
• C) $56,000
• D) $70,000

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