Ask Question
8 July, 04:45

Blue Spruce Corp. unadjusted trial balance includes the following balances (assume normal balances) : •Accounts Receivable$1160000•Allowances for Doubtful Accounts$24900Bad debts are estimated to be 5% of outstanding receivables. What amount of bad debt expense will the company record?

+2
Answers (1)
  1. 8 July, 04:56
    0
    Answer: = $33100

    Step-by-step explanation:

    Amount of bad debt expense is given by;

    = Bad debt estimate - allowance for doubtful accounts

    = 5% of account receivables - allowance for doubtful accounts

    = 5/100 * 1160000 - 24900

    =58000 - 24900

    = $33100

    Goodluck ...
Know the Answer?
Not Sure About the Answer?
Find an answer to your question 👍 “Blue Spruce Corp. unadjusted trial balance includes the following balances (assume normal balances) : •Accounts ...” in 📗 Mathematics if the answers seem to be not correct or there’s no answer. Try a smart search to find answers to similar questions.
Search for Other Answers