Question

Labrador Inc. has the following information available for the current year:


Net Sales $750,000
Bad Debt Expense 60,000
Accounts Receivable, Beginning of Year 120,000
Accounts Receivable, End of Year 55,000
Allowance For Doubtful Accounts, Beginning of Year 42,000
Allowance For Doubtful Accounts, End of Year 62,000

What was the amount of write-offs during the year?

A) $62,000

B) $0

C) $55,000

D) $40,000

Answer

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