Vine Company began operations on January 1,2010.During its first year,the company completed a number of transactions involving sales on credit,accounts receivable collections,and bad debts.These transactions are summarized as follows:
a. Sold $ \$ 1,348,300 $ of merchandise (that had cost $ \$ 983,600 $ ) on credit, terms $ \mathrm{n} / 30 $.
b. Wrote off $ \$ 19,400 $ of uncollectible accounts receivable.
c. Received $ \$ 666,100 $ cash in payment of accounts receivable.
d. In adjusting the accounts on December 31 , the company estimated that $ 2.90 \% $ of accounts receivable will be uncollectible
What is the amount required for the adjusting journal entry to record bad debt expense?
A)$18,644.90
B)$39,100.70
C)$19,783.80
D)$19,221.20
E)$19,400.20

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The Answer of Vine Company began operations on January 1,2010.During its first year,the company completed a number of transactions involving sales on credit,accounts receivable collections,and bad debts.These transactions are summarized as follows:
a. Sold $ \$ 1,348,300 $ of merchandise (that had cost $ \$ 983,600 $ ) on credit, terms $ \mathrm{n} / 30 $.
b. Wrote off $ \$ 19,400 $ of uncollectible accounts receivable.
c. Received $ \$ 666,100 $ cash in payment of accounts receivable.
d. In adjusting the accounts on December 31 , the company estimated that $ 2.90 \% $ of accounts receivable will be uncollectible
What is the amount required for the adjusting journal entry to record bad debt expense?
A)$18,644.90
B)$39,100.70
C)$19,783.80
D)$19,221.20
E)$19,400.20

Vine Company Began Operations on January 1,2010 $1,348,300 \$ 1,348,300 $1,348,300

Vine Company Began Operations on January 1,2010 $\$ 1,348,300$