The following information is available for Longview Company:
As a result of a review and aging of accounts receivable,it has been determined that the Allowance for Doubtful Accounts should show a balance of $2,400 at December 31,2014.What amount should Longview record as bad debt expense for the year ended December 31,2014?
Definitions:
External User
External users are individuals or entities outside a company who use financial statements to make decisions about the company, such as investors and creditors.
Business Enterprise
An organizational entity involved in commercial, industrial, or professional activities with the goal of generating economic returns.
Information Management
The process of collecting, storing, managing, and distributing information in an efficient and effective manner to support business processes.
Legal Entity
An organization that has legal rights and obligations, such as a corporation, partnership, or sole proprietorship.
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