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Blank Corporation Income Statement: Bad debs: $ 16,692 Blank Corporation Balance Sheet Accounts Receivable (net...

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Accounting

Blank Corporation Income Statement: Bad debs: $ 16,692

Blank Corporation Balance Sheet Accounts Receivable (net of $7,999 allowance for doubtful accounts): $ 228,829

Blank Corporation computes bad debt expense as a percentage of its sales, which is NOT the proper treatment for federal income tax purposes. Hint: direct write-off method is used for tax purposes.

What is the taxable deduction for bad debt expense?

Thank you!

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