Manley Operates a Law Practice on the Accrual Method and Calendar

question 95

Multiple Choice

Manley operates a law practice on the accrual method and calendar year. At the beginning of the year, Manley's firm had an allowance for doubtful accounts with a balance of $15,000. At the end of the year, Manley recorded bad debt expense of $23,000 and the balance of doubtful accounts had increased to $18,000. What is Manley's deduction for bad debt expense this year?

• A)$23,000
• B)$3,000
• C)$26,000
• D)$5,000
• E)$20,000

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Definitions:

Salovey And Mayer's Model

A pioneering model of emotional intelligence that emphasizes the ability to process emotional information and use it to navigate the social environment.

Emotional Intelligence

The ability to recognize, understand, and manage one's own emotions and the emotions of others, facilitating effective communication and harmonious relationships.

Management Of Emotions

A process that includes recognising one's emotions and the emotions of others, and using this understanding to guide thinking and behavior.

Quality Of Performance

The degree to which a task or job is carried out with excellence, accuracy, and efficiency.