Business, 09.04.2020 01:39 tzartiger12

Sheffield Corp. had a 1/1/20 balance in the Allowance for Doubtful Accounts of $34500. During 2020, it wrote off $21600 of accounts and collected $5740 on accounts previously written off. The balance in Accounts Receivable was $630000 at 1/1 and $730000 at 12/31. At 12/31/20, Sheffield estimates that 7% of accounts receivable will prove to be uncollectible. What is Bad Debt Expense for 2020?

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Sheffield Corp. had a 1/1/20 balance in the Allowance for Doubtful Accounts of $34500. During 2020,...