On December 311921, Kraft Cheese has a debit balance of 1.500 for the Allowance for...
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On December 311921, Kraft Cheese has a debit balance of 1.500 for the Allowance for Uncollectible Accounts before any year end adjustment Kraft Cheese also has the following Information for its accounts receivable and the estimated percentages of bad debts for different past-due amounts:
1 poi Question 3 3 On December 31. 1921, Kraft Cheese has a debit balance of $1,500 for the Allowance for Uncollectible Accounts before any year-end adjustment. Kraft Cheese also has the following information for its accounts receivable and the estimated percentages of bad debts for different past-due amounts: Age Group (days past due) 0-30 31-60 61-90 Accounts Receivable $ 50,000 $ 20,000 $ 10.000 Estimated Percent Uncollectible 596 1096 2096 What is the amount of bad debt expense to be reported by Kraft Cheese's financial statements for 1921 using the aging method? $6,500. $1.500. $5,000. $8.000
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