Homework answers / question archive / Company A has the following transaction related to their bad debt during the year of 2020: Jan 1: AR balance is $100,000, estimated bad debt is 5% Mar 2: Customer A went bankrupt and unable to pay $1,000 If the company using Allowance method, what is the balance of bad debt expense account at Jan 1st

Company A has the following transaction related to their bad debt during the year of 2020: Jan 1: AR balance is $100,000, estimated bad debt is 5% Mar 2: Customer A went bankrupt and unable to pay $1,000 If the company using Allowance method, what is the balance of bad debt expense account at Jan 1st

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Company A has the following transaction related to their bad debt during the year of 2020:

Jan 1: AR balance is $100,000, estimated bad debt is 5%

Mar 2: Customer A went bankrupt and unable to pay $1,000

If the company using Allowance method, what is the balance of bad debt expense account at Jan 1st