Phillyg3620 Phillyg3620

12-03-2020
Business

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Using the percentage of receivables method for recording bad debt expense, estimated uncollectible accounts are $14,000. If the balance of the Allowance for Doubtful Accounts is $2,000 debit before adjustment, what is the amount of bad debt expense?

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heavenandholiness heavenandholiness

17-03-2020

Answer:

$14,000

Explanation:

The Allowance for Doubtful Accounts account can have either a debit or credit balance before the year-end adjustment.

Under the percentage-of-sales method, the company ignores any existing balance in the allowance when calculating the amount of the year-end adjustment.

Hence the amount of bad debt expense will be $14,000.

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