The allowance for bad debts account has a credit balance of $ 3 comma 000$3,000 before the adjusting entry for bad debts expense. the company's management estimates that 44% of net credit sales will be uncollectible for the year 2019. net credit sales for the year amounted to $ 290 comma 000$290,000. what is the amount of bad debts expense reported on the income statement for 2019?

The bad debt expense which should be recorded in the income statement for the year 2019, amounts to $127,600

Explanation:

The bad debt expense which should be recorded in the income statement for the year 2019 is computed as:

= Net Credit Sales × Uncollectible credit sales for the year 2019

where

Net Credit Sales is $290,000

Uncollectible credit sales for the year 2019 is 44%

Putting the values in the above formula:

= $290,000 × 44%

= $127,600

hi i’m a student too and i’ve had this app downalodes for a few weeks people do answer it you just gotta be patient and what is your question + subject i’ll you?

a

b

b

a

c

b

d

d

none of these are correct, as they are all sources of american law

a