49) On December 31 of the current year, the unadjusted trial balance...
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Accounting
49)
On December 31 of the current year, the unadjusted trial balance of a company using the percent of receivables method to estimate bad debt included the following: Accounts Receivable, debit balance of $98,700; Allowance for Doubtful Accounts, credit balance of $1,111. What amount should be debited to Bad Debts Expense, assuming 6% of outstanding accounts receivable at the end of the current year will be uncollectible?
$4,811.
$3,919.
$7,033.
$5,922.
$1,111.
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