Business, 21.03.2020 03:20 rodrickahammonds

A recent annual report for Target contained the following information ( dollars in thousands) at the end of its fiscal year:

Year 2 Year 1
Accounts receivable $9,094,000 $8,624.000
Allowance for doubtful accounts (1,010,000) (570,000)
$8.084.000 $8,054,000

A footnote to the financial statements disclosed that uncollectible accounts amounting to $8 11.000 and $428.000 were written off as bad debts during year 2 and year 1, respectively. Assume that the tax rate for Target was 30 percent.
Required:
Determine the bad debt expense for year 2 based on the preceding fact s. (Hint: Use the Allowance for Doubtful Accounts T-account to solve for the missing value.)

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A recent annual report for Target contained the following information ( dollars in thousands) at the...

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