Dennis Company's Allowance for Doubtful Accounts, showed a credit balance of $950 on January 1, 2004. During the year, the company wrote off $3,200 of uncollectible accounts, and reinstated $1,300 of previously written off accounts. The Dec 31, 2004 balance of Accounts Receivable is $97,500, and 6% of outstanding accounts receivable are assumed to be uncollectible. What will be the company's Bad Debts Expense for 2004?:
A) $4,900
B) $8,700
C) $5,850.
D) $3,000
E) $6,800
Answer: E) $6,800
Business
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