Wholesale Stuff, Inc. sells to retailers on account. Sales for the year totaled $9,900,000. The company uses the aging method for determining bad debt expense.
Wholesale Stuff, Inc. sells to retailers on account. Sales for the year totaled $9,900,000. The company uses the aging method for determining bad debt expense. The aging report and related information includes: Time Outstanding Gross Balance Percentage Uncollectible < 30 days $660,000 1% 30-60 days 330,000 5% < 60 days 110,000 10% The unadjusted balance in the allowance account at year end is $1,700 credit. is the amount of bad debt expense for the year? A $34,100 B $35,800 C $32,400 D $30,690
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