at the beginning of 2018, uptown travel inc. has the following account balances:

Question

at the beginning of 2018, uptown travel inc. has the following account balances:
Accounts receivable: $41000 (debit) Allowance for Bad Debts: $8000 (credit)
During the year, credit sales were $820000. Cash collected in credit sales was $770000, and $16000 was written off. Uptown uses the aging of receivables method to record bad debts expense. The amount estimated as uncollectible was $30000. The amount of bad debts expense for 2018 is ____? at the beginning of 2018, uptown travel inc. has the following account balances:
Accounts receivable: $41000 (debit) Allowance for Bad Debts: $8000 (credit)
During the year, credit sales were $820000. Cash collected in credit sales was $770000, and $16000 was written off. Uptown uses the aging of receivables method to record bad debts expense. The amount estimated as uncollectible was $30000. The amount of bad debts expense for 2018 is ____?
Accounts receivable: $41000 (debit) Allowance for Bad Debts: $8000 (credit)
During the year, credit sales were $820000. Cash collected in credit sales was $770000, and $16000 was written off. Uptown uses the aging of receivables method to record bad debts expense. The amount estimated as uncollectible was $30000. The amount of bad debts expense for 2018 is ____?

Explanation / Answer

Amount of bad debt expense = Estimated uncollectible amount-Balance in allowance for doubtful accounts

                                                = 30000-8000

Amount of bad debt expense = 22000

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