Business, 03.04.2020 03:54 tonyrod617
Information related to Mingenback Company for 2017 is summarized below. Total credit sales $2,446,000Accounts receivable at December 31 868,000Bad debts written off 32,100(a) What amount of bad debt expense will Mingenback Company report if it uses the direct write-off method of accounting for bad debts?$Information related to Mingenback Company for 2017(b) Assume that Mingenback Company estimates its bad debt expense to be 3% of credit sales. What amount of bad debt expense will Mingenback record if it has an Allowance for Doubtful Accounts credit balance of $4,100?$Information related to Mingenback Company for 2017(c) Assume that Mingenback Company estimates its bad debt expense based on 6% of accounts receivable. What amount of bad debt expense will Mingenback record if it has an Allowance for Doubtful Accounts credit balance of $3,000?$Information related to Mingenback Company for 2017(d) Assume that Mingenback Company estimates its bad debt expense based on 6% of accounts receivable. What amount of bad debt expense will Mingenback record if it has an Allowance for Doubtful Accounts debit balance of $3,000?
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Information related to Mingenback Company for 2017 is summarized below. Total credit sales $2,446,00...
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