Homework Help: ACC

Posted by Shamy on Tuesday, November 2, 2010 at 12:58am.

Smithson Corporation had a 1/1/10 balance in the Allowance for Doubtful Accounts of $10,000. During 2010, it wrote off $7,200 of accounts and collected $2,100 on accounts previously written off. The balance in Accounts Receivable was $200,000 at 1/1 and $240,000 at 12/31. At 12/31/10, Smithson estimates that 5% of accounts receivable will prove to be uncollectible. What is Bad Debt Expense for 2010? A) $2,000 B) $7,100 C) $9,200 D) $12,000.

ACC - SraJMcGin, Tuesday, November 2, 2010 at 2:12am
Here are some accounting tutorials:

http://search.yahoo.com/search?fr=mcafee&p=accounting+tutorials

Sra

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