The following information is available for Waterway Industries:
Allowance for doubtful accoun...
The following information is available for Waterway Industries:
Allowance for doubtful accounts at December 31, 2019 $23900
Credit sales during 2020 1340000
Accounts receivable deemed worthless and written off during 2020 25900
As a result of a review and aging of accounts receivable in early January 2021, it has been determined that an allowance for doubtful accounts of $16300 is needed at December 31, 2020.
Required:
(A) What amount should Waterway record as "bad debt expense" for the year ended December 31, 2020?
Answers: 2
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