Business, 22.10.2019 19:00 Jasten

Smithson corporation had a 1/1/20 balance in the allowance for doubtful accounts of $30,000. during 2020, it wrote off $21,600 of accounts and collected $6,300 on accounts previously written off. the balance in accounts receivable was $600,000 at 1/1 and $720,000 at 12/31. at 12/31/20, smithson estimates that 5% of accounts receivable will prove to be uncollectible. what is bad debt expense for 2020?

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Smithson corporation had a 1/1/20 balance in the allowance for doubtful accounts of $30,000. during...