Multiple Choice
Wheeling Inc.uses the aging of accounts receivable method.Its estimate of uncollectible receivables resulting from the aging analysis equals $5,000.At the end of the year,the balance of Accounts Receivable is $100,000 and the unadjusted debit balance of the Allowance for Doubtful Accounts is $500.Credit sales during the year totaled $150,000.What is the estimated Bad Debt Expense for the current year?
A) $4,500
B) $5,000
C) $5,500
D) $7,000
Correct Answer:
Verified
Correct Answer:
Verified
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