SN ezto.mheducation.com/hm.tpx value. 2.50 points Assume that Simple Co. had cre

Question

SN ezto.mheducation.com/hm.tpx value. 2.50 points Assume that Simple Co. had credit sales of $250,000 and cost of goods sold of $150,000 for the period Simple uses the aging method and estimates that the appropriate ending balance in the Allowance for Doubtful Accounts is $3,000, Before the end-of-period adjustment is made, the Allowance for Doubtful Accounts has a credit balance of $250 What amount of Bad Debt Expense would the company record as an end-of-period adjustment? Bad Debt Expense Reterences Book & Resources Difficulty 1 Easy Worksheet O Type here to search

Explanation / Answer

Calculate bad debt expense :

Bad debt expense = 3000-250 = $2750

So year end adjusting entry is for $2750

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