On its recent financial statements, Hassell Fine Foods reported the following information about net sales revenue and accounts receivable (amounts in thousands): Current Year Prior Year
Accounts receivable, net of allowances of $313 and $277 $ 15,189 $ 12,938
Net revenues 64,420 55,122
According to its Form 10-K, Hassell recorded bad debt expense of $88 and there were no bad debt recoveries during the current year. (Hint: Refer to the summary of the effects of accounting for bad debts on the Accounts Receivable (Gross) and the Allowance for Doubtful Accounts T-accounts. Use the T-accounts to solve for the missing values.)
What amount of bad debts was written off during the current year?