A company had the following balances on December 31, 2024, b…
A company had the following balances on December 31, 2024, before adjustment: Accounts Receivable = $100,000; Allowance for Uncollectible Accounts = $4,100 (credit balance). The company estimates uncollectible accounts based on an aging of accounts receivable as shown below: Age GroupAmount ReceivableEstimated Percent UncollectibleNot yet due$ 50,0004%0-30 days past due$ 20,0008%31-60 days past due$ 18,00010%More than 60 days past due$ 12,00040% What amount of bad debt expense would the company report in its financial statements dated December 31, 2024?
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