Flyer Company has provided the following information prior to any year-end bad debt adjustment: Cash...
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Accounting
Flyer Company has provided the following information prior to any year-end bad debt adjustment: Cash sales, $160,000 Credit sales, $460,000 Selling and administrative expenses, $120,000 Sales returns and allowances, $40,000 Gross profit, $500,000 Accounts receivable, $205,000 Sales discounts, $24,000 Allowance for doubtful accounts credit balance, $2,200 Flyer prepares an aging of accounts receivable and the result shows that 4% of accounts receivable is estimated to be uncollectible. How much is bad debt expense?
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