Business, 20.03.2020 04:10 browndarrell085
Lewis Company uses the allowance method for recording its expected credit losses. It estimates bad debts at 2% of credit sales, which were $900,000 during the year. On December 31, the Accounts Receivable balance was $150,000, and the Allowance for Doubtful Accounts had a balance of $12,200 before adjustments. What is the amount of bad debt expense Lewis Company will report on their Income Statement this year?
a. 12,200
b.2.756
c. 3,000
d. 18,000
e. 17,756
Answers: 1
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Lewis Company uses the allowance method for recording its expected credit losses. It estimates bad d...
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