Mills Corporation's balance sheet included the following information:
Accounts Receivab...
Mills Corporation's balance sheet included the following information:
Accounts Receivable $520,000
Less: Allowance for Doubtful Accounts 67,000
Accounts Receivable, Net of Allowance $453,000
If the Allowance account had a credit balance of $28,500 immediately before the year-end adjustment for bad debts and no accounts were written-off or allowed for during the year, what was the amount of Bad Debt Expense recognized during the year?
Answers: 2
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