FINANCIAL ACCOUNTING
FINANCIAL ACCOUNTING
10th Edition
ISBN: 9781259964947
Author: Libby
Publisher: MCG
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Assume that Mingenback Company estimates its bad debt expense based on 6% of accounts receivable. What amount of bad debt expense will Mingenback record if it has an Allowance for Doubtful Accounts credit balance of $3,000?

Current Attempt in Progress
Information related to Mingenback Company for 2019 is summarized below.
Total credit sales
Accounts receivable at December 31
Bad debts written off
$2,500,000
875,000
33,000
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Transcribed Image Text:Current Attempt in Progress Information related to Mingenback Company for 2019 is summarized below. Total credit sales Accounts receivable at December 31 Bad debts written off $2,500,000 875,000 33,000
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