Bolt Corporation The following data concern Bolt Corporation for 2012. Accounts receivable--January 1, 2012 $455,000 Credit sales during 2012 900,000 Collections from credit customers during 2012 825,000 Allowance for bad debts before adjustment for the year 2,100 Estimated uncollected accounts based on an aging analysis 29,200 Refer to the information provided for Bolt Corporation. If the aging
approach is used to estimate bad debts, what amount should be recorded as bad debt expense for 2012?
A) $ 2,100
B) $27,100
C) $29,200
D) $31,300
B
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Which of the following is true of a conventional distribution channel?
A) It has each channel member acting as a separate business unit trying to maximize its own profits. B) It consists of producers selling their products directly to customers without the use of intermediaries. C) It has one channel member owning the other channel members. D) It is a distribution channel where a producer is owner of all the other channel members. E) It has all members of the channel working together as a single organization.
The efficient insurance market requires all of the following conditions except:
A) numerous sellers and buyers B) well-informed consumers C) numerous purchase substitutes (homogeneity) D) a government subsidy for lower-income citizens