Zihao, Inc. provided the following aging of its receivables at December 31.
During the year, $12,512 of receivables were written off. The balance at the beginning of the year in the allowance account was $12,000.
Required:
a. How much will Zihao report as bad debts expense for the year?
b. How much is the net value of Zihao's receivables at year end?

Question

Zihao, Inc. provided the following aging of its receivables at December 31. 
  During the year, $12,512 of receivables were written off. The balance at the beginning of the year in the allowance account was $12,000.
Required:
a. How much will Zihao report as bad debts expense for the year?
b. How much is the net value of Zihao's receivables at year end?

Quizplus · Accepted Answer

The Answer of Zihao, Inc. provided the following aging of its receivables at December 31. 
  During the year, $12,512 of receivables were written off. The balance at the beginning of the year in the allowance account was $12,000.
Required:
a. How much will Zihao report as bad debts expense for the year?
b. How much is the net value of Zihao's receivables at year end?