mibenzo
Feb 2, 2007, 08:48 PM
Can someone help with the following accounting exercise?
The following info was listed in company X balance sheet as of 2005
Aacounts Rec for 2004 150,000
Aacounts Rec for 2005 250,000
Allowance for bad debt in 2004 was 8,200
Allowance for bad debt in 2005 was 12,000
The actual amount of bad debt on the income statement was 7,700 in 2004 and 10,500 in 2005. What was the amount of write off in 2005?
The answer is not 10,500 but I think it should be 10,500.
The following info was listed in company X balance sheet as of 2005
Aacounts Rec for 2004 150,000
Aacounts Rec for 2005 250,000
Allowance for bad debt in 2004 was 8,200
Allowance for bad debt in 2005 was 12,000
The actual amount of bad debt on the income statement was 7,700 in 2004 and 10,500 in 2005. What was the amount of write off in 2005?
The answer is not 10,500 but I think it should be 10,500.