Register
Assume Zap Industries reported the following adjusted account balances at year-end. 2019 2018 Accounts Receivable $ 2,496,320 $ 1,937,472 Allowance for Doubtful Accounts (126,400 ) (103,360 ) Accounts
168,344 views
44 votes
44 votes
Assume Zap Industries reported the following adjusted account balances at year-end. 2019 2018 Accounts Receivable $ 2,496,320 $ 1,937,472 Allowance for Doubtful Accounts (126,400 ) (103,360 ) Accounts Receivable, Net $ 2,369,920 $ 1,834,112 Assume the company recorded no write-offs or recoveries during 2019. What was the amount of Bad Debt Expense reported in 2019

User Georgi Naumov
by
3.4k points

1 Answer

15 votes
15 votes

Answer: $23,040

Step-by-step explanation:

Based on the information given in the question and assuming the company recorded no write-offs or recoveries during 2019, the amount of Bad Debt Expense reported in 2019 will be the difference between the ending balance of the allowance account and the beginning balance of the allowance account. This will be:

= $126,400 - $103,360

= $23,040

Therefore, the correct answer is $23,040

User YetAnotherSE
by
3.3k points
Ask a Question
Welcome to QAmmunity.org, where you can ask questions and receive answers from other members of our community.

1.6m questions

2.0m answers

Other Questions

If the rate of inflation in Japan dramatically increases while the rate of inflation in the United States remains constant, then a. the demand curve for dollars shifts to the left. b. the demand curve
The market value of the equity of Hudgins, Inc., is $582,000. The balance sheet shows $21,000 in cash and $192,000 in debt, while the income statement has EBIT of $93,000 and a total of $137,000 in depreciation
Kylie is risk averse and has $1,000 with which to make a financial investment. She has three options. Option A is a risk-free government bond that pays 5 percent interest each year for two years. Option
From the standpoint of the issuing company, a disadvantage of using bonds as a means of long-term financing is that Group of answer choices bond interest is deductible for tax purposes. interest must be
Elroy Rocket is entering his senior year as an accounting major and has a number of options for his summer break. His options for the 3 month break follow: (1) Work full time at a local accounting firm
Link Copied!