Using the following information: During 2010, sales on account were $145,000 and collections on account were $86,000. Also during 2010, the company wrote off $8,000 in uncollectible accounts. An analysis of outstanding receivable accounts at year end indicated that uncollectible accounts should be estimated at $54,000.
Bad debts expense for 2010 is
A) $17,000.
B) $9,000.
C) $54,000
D) $1,000.

Question

Using the following information:  During 2010, sales on account were $145,000 and collections on account were $86,000. Also during 2010, the company wrote off $8,000 in uncollectible accounts. An analysis of outstanding receivable accounts at year end indicated that uncollectible accounts should be estimated at $54,000.
Bad debts expense for 2010 is
A) $17,000. 
B) $9,000. 
C) $54,000 
D) $1,000.

Quizplus · Accepted Answer

The Answer of Using the following information:  During 2010, sales on account were $145,000 and collections on account were $86,000. Also during 2010, the company wrote off $8,000 in uncollectible accounts. An analysis of outstanding receivable accounts at year end indicated that uncollectible accounts should be estimated at $54,000.
Bad debts expense for 2010 is
A) $17,000. 
B) $9,000. 
C) $54,000 
D) $1,000.

Using the Following Information: During 2010, Sales on Account