11- Multiple Choice Question 97
Using the percentage-of-receivables basis , the uncollectible accounts for the year is estimated to be $ 31,000 . If the balance for the Allowance for Doubtful Accounts is a $ 7,000 debit before adjustment , what is the amount of bad debts expense for the period ?
$ 31,000 $ 38,000 $ 7,000 $ 24,000 12- Multiple Choice Question 103 Using the following information : 12 / 31 / 12 Accounts receivable $ 525,000 Allowance ( 35,000 ) Cash realizable value $ 490,000
During 2013 , sales on account were $ 145,000 and collections on account were $ 100,000 . Also during 2013 , 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 $ 40,000 .
Bad debts expense for 2013 is