Multiple Choice
The following information is related to December 31, 2021 balances. 
During 2022, sales on account were $390,000 and collections on account were $230,000.The company wrote off $22,000 in uncollectible accounts.An analysis of outstanding receivable accounts at year-end indicated that bad debts should be estimated at $144,000.Bad debt expense for 2022 is:
A) $46,000.
B) $24,000.
C) $144,000.
D) $ 2,000.
Correct Answer:
Verified
Correct Answer:
Verified
Q12: The bookkeeper recorded the following journal entry
Q13: The collection of an account that had
Q14: An aging of a company's accounts receivable
Q15: When using the direct write-off method, year-end
Q16: A debit balance in the Allowance for
Q19: The financial statements of the Nelson Manufacturing
Q20: Thompson Corporation's unadjusted trial balance includes the
Q22: Doane Company receives a $10,000, 3-month, 6%
Q43: The allowance method of accounting for uncollectible
Q134: A major advantage of national credit cards