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Business, 05.05.2020 21:44 aj12381

At year-end, Chief Company has a balance of $25,000 in accounts receivable of which $2,500 is more than 30 days overdue. Chief has a credit balance of $250 in the allowance for doubtful accounts before any year-end adjustments. Using the aging of accounts receivable method, Chief estimates that 2.0% of current accounts and 10% of accounts over thirty days are uncollectible. What is the amount of bad debt expense?

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At year-end, Chief Company has a balance of $25,000 in accounts receivable of which $2,500 is more t...
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