Manley operates a law practice on the accrual method and calander year. At the beginning...
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Accounting
Manley operates a law practice on the accrual method and calander year. At the beginning of the year , Manely's firm had an allowance for doubtful accounts with a balance of $15,000. At the end of the year, Manley recorded bad debt expense of $23,000 on his income staement and the balance of the allowance for doudtful accounts had increased to $18,000. What is Manley's deduction for bad debit expense this year?
A)$23,00
B)$3,000
C)$26,000
D)$5,000
E)$20,000
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