The following information is available for Reagan Company:
As a result of a review and aging of accounts receivable in early January 2009, however, it has been determined that an allowance for doubtful accounts of $5,500 is needed at December 31, 2008. What amount should Reagan record as "bad debt expense" for the year ended December 31, 2008?

Question

The following information is available for Reagan Company:
 As a result of a review and aging of accounts receivable in early January 2009, however, it has been determined that an allowance for doubtful accounts of $5,500 is needed at December 31, 2008. What amount should Reagan record as "bad debt expense" for the year ended December 31, 2008?

Quizplus · Accepted Answer

$8,000 - $9,000 + X = $5,500; X = $6,500

The Following Information Is Available for Reagan Company