On January 1,2019,Triangle Corp.has the following account balances:
Allowance for Bad Debts
During the year,Triangle has $155,000 of credit sales,collections of credit sales of $142,000,and write-offs of $3,400.It records bad debts expense at the end of the year using the aging-of-receivables method.At the end of the year,the aging analysis shows that $2,000 is the estimate of uncollectible accounts.Before the year-end entry to adjust the bad debts expense is made,the balance in the Allowance for Bad Debts is ________.
Definitions:
Personal Defense
Legal arguments or claims that an individual can use to avoid enforcement of a contract or demand based on issues personal to him or her.
Real Defense
Legitimate legal reasons that can be used to avoid the enforcement of a contract or negate an obligation.
Obligated
Required by a legal or moral duty to do something or responsible for an action.
Overdue
Overdue signifies being past the time or date by which a task, obligation, or payment was due to be completed or made.
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