Marconi Co. has the following information available for the current year: Net Sales $ 762,000 Bad Debt Expense 48,000 Accounts Receivable, Beginning of Year 132,000 Accounts Receivable, End of Year 67,000 Allowance For Doubtful Accounts, Beginning of Year 54,000 Allowance For Doubtful Accounts, End of Year 74,000 What was the amount of write-offs during the year?

Question

Abbie Frost

Business

18 April, 07:53

Marconi Co. has the following information available for the current year: Net Sales $ 762,000 Bad Debt Expense 48,000 Accounts Receivable, Beginning of Year 132,000 Accounts Receivable, End of Year 67,000 Allowance For Doubtful Accounts, Beginning of Year 54,000 Allowance For Doubtful Accounts, End of Year 74,000 What was the amount of write-offs during the year?

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Answers (1)

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Richard · Answer 1

the amount of write-offs during the year = $28,000

Explanation:

Amount written off = Beginning allowance for doubtfull accounts + Bad debts expense - Closing allowanve for doubtfull accounts

= 54000+48000-74000

= 28000