Multiple Choice
Marston Company has outstanding accounts receivable totaling €6.5 million as of December 31 and sales on credit during the year of €24 million.There is also a credit balance of €12,000 in the allowance for doubtful accounts.After aging its receivables,the company estimates that 8% of its total outstanding receivables will be uncollectible.What will be the amount of bad debt expense recognized for the year?
A) €532,000
B) €520,000
C) €512,000
D) €508,000
Correct Answer:
Verified
Correct Answer:
Verified
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