Hall Co.’s allowance for credit losses had a credit balance of $24,000 at December 31, Year 1. During Year 2, Hall wrote off uncollectible accounts of $96,000. The aging of accounts receivable indicated that a $100,000 allowance for credit losses was required at December 31, Year 2. What amount of credit loss expense should Hall report for Year 2?

$172,000

Explanation:

A company can either make sales by cash or on account. When a company makes sales on account, debit accounts receivable and credit sales. Based on assessment, some or all of the receivables may be uncollectible.  

To account for this, debit bad debit expense and credit allowance for doubtful debt. Should the debt become uncollectible (i.e go bad), debit allowance for doubtful debt and credit accounts receivable.

Where a debit that had previously been determined to have gone bad gets settled, debit cash and credit bad debt expense.

Given that during Year 2, Hall wrote off uncollectible accounts of $96,000,

This amount will include the $24,000 from prior year and an additional $72,000 from current year giving the sum of $96,000.

Since the aging of accounts receivable indicated that a $100,000 allowance for credit losses was required at December 31, total credit expense top be reported for year 2

= $100,000 + $72,000

= $172,000

the most important factor in the

work process or industry is to retain the interest of the employee. and to

retain them, their salary or profit must be adjusted to the best value. unless

the employee does not do his job properly, employees must receive bonuses or

benefits to ensure them to stay in the company. it will actually make them stay

longer, make them feel important and reduce costs for hiring new employees.

explanation:

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