Using the Percentage-Of-Receivables Basis, the Uncollectible Accounts for the Year

question 163

Multiple Choice

Using the percentage-of-receivables basis, the uncollectible accounts for the year are estimated to be $38,000.If the balance for the Allowance for Doubtful Accounts is a $7,000 debit before adjustment, what is the amount of bad debt expense for the period?

• A)$7,000
• B)$31,000
• C)$38,000
• D)$45,000

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