Principles of Accounting Volume 1
Principles of Accounting Volume 1
19th Edition
ISBN: 9781947172685
Author: OpenStax
Publisher: OpenStax College
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The trial balance before the adjustment of Risen Company for 2014 reports the following balances:
Accounts receivable
Dr.
$163,000
Cr.
Allowance for doubtful accounts
$1,260
Sales (all on credit)
500,000
Sales returns and allowances
26,000
Assume that Risen Company estimates doubtful accounts to be 10% of gross accounts receivable
Bad Debt Expense for 2014 would be:
a. $16,300.
b. $13,780.
c. $17,560.
d. $15,040.
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Transcribed Image Text:The trial balance before the adjustment of Risen Company for 2014 reports the following balances: Accounts receivable Dr. $163,000 Cr. Allowance for doubtful accounts $1,260 Sales (all on credit) 500,000 Sales returns and allowances 26,000 Assume that Risen Company estimates doubtful accounts to be 10% of gross accounts receivable Bad Debt Expense for 2014 would be: a. $16,300. b. $13,780. c. $17,560. d. $15,040.
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