Problem 9-2A Information related to Mingenback Company

Problem 9-2AInformation related to Mingenback Company for 2014 is summarized below.Total credit salesAccounts receivable atDecember 31Bad debts written of$2,563,000907,00032,800(a) What amount of bad debt expense will Mingenback Company report if it uses the direct write-ofmethod of accounting for bad debts?$(b) Assume that Mingenback Company estimates its bad debt expense to be 2% of credit sales. Whatamount of bad debt expense will Mingenback record if it has an Allowance for Doubtful Accountscredit balance of $4,500? $(c) Assume that Mingenback Company estimates its bad debt expense based on 5% of accountsreceivable. What amount of bad debt expense will Mingenback record if it has an Allowance forDoubtful Accounts credit balance of $3,500? $(d) Assume that Mingenback Company estimates its bad debt expense based on 5% of accountsreceivable. What amount of bad debt expense will Mingenback record if it has an Allowance forDoubtful Accounts debit balance of $3,500? $

 

 

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