Homework answers / question archive /  Redwing Corporation had a 1/1/20 balance in the Allowance for Doubtful Accounts of $30,000 During 2020, it wrote off $21,600 of accounts and collected $6,300 on accounts previously written off

 Redwing Corporation had a 1/1/20 balance in the Allowance for Doubtful Accounts of $30,000 During 2020, it wrote off $21,600 of accounts and collected $6,300 on accounts previously written off

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 Redwing Corporation had a 1/1/20 balance in the Allowance for Doubtful Accounts of $30,000 During 2020, it wrote off $21,600 of accounts and collected $6,300 on accounts previously written off. The balance in Accounts Receivable was $720,000 at 1/1 and $600,000 at 12/31. At 12/31/20, Redwing estimates that 5% of accounts receivable will prove to be uncollectible. What is Bad Debt Expense for 2020? $21,600 $30,000 O $0 O $27,600 $15.300 Question 12 3 pts Toll, Inc. took a physical inventory at the end of the year and determined that $780,000 of goods were on hand. In addition, Toll, Inc. determined that $60,000 of goods were in transit at year end that were shipped f.o.b. destination from a supplier. The goods were actually received two days after the inventory count. The company had $90,000 of goods out on consignment. What amount should Toll report as inventory at the end of the year? $930,000 $860,000 @ $780,000 $870,000