Smithson Corporation's unadjusted trial balance includes the following balances (assume normal balances): Accounts Receivable $ \quad\quad\quad\quad\quad \$ 1,119,000 $
Allowances for Doubtful Accounts $ \quad \$ 21,300 $ Bad debts are estimated to be 6% of outstanding receivables. What amount of bad debt expense will the company record?
A)$67,140
B)$45,840
C)$44,562
D)$68,418

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The Answer of Smithson Corporation's unadjusted trial balance includes the following balances (assume normal balances): Accounts Receivable $ \quad\quad\quad\quad\quad \$ 1,119,000 $
Allowances for Doubtful Accounts $ \quad \$ 21,300 $ Bad debts are estimated to be 6% of outstanding receivables. What amount of bad debt expense will the company record?
A)$67,140
B)$45,840
C)$44,562
D)$68,418

Smithson Corporation's Unadjusted Trial Balance Includes the Following Balances (Assume $1,119,000 \quad\quad\quad\quad\quad \$ 1,119,000 $1,119,000

Smithson Corporation's Unadjusted Trial Balance Includes the Following Balances (Assume $\quad\quad\quad\quad\quad \$ 1,119,000$