Thompson Corporation's Unadjusted Trial Balance Includes the Following Balances (Assume $\quad\quad\quad \$ 1,492,000$

question 123

Multiple Choice

Thompson Corporation's unadjusted trial balance includes the following balances (assume normal balances) : - Accounts receivable $\quad\quad\quad \$ 1,492,000$
- Allowance for doubtful accounts $\quad\$ 28,400$ Bad debts are estimated to be 6% of outstanding receivables. What amount of bad debt expense will the company record?

• A) $89,520
• B) $61,120
• C) $59,416
• D) $91,224

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