Aspen Corporation Data for Aspen Corporation for the year ended December 31, 2012, are presented below. Credit sales $2,100,000 Sales returns 150,000 Gross accounts receivable (December 31, 2012 ) 420,000 Allowance for bad debts (Before adjustment at December 31, 2012 ) 25,000 Estimated amount of uncollected accounts based on an aging analysis 75,000 Refer to data provided for Aspen Corporation
If Aspen estimates its bad debts at 8% of accounts receivable, what amount will be reported as bad debt expense for 2012?
A) $75,000
B) $25,000
C) $ 8,600
D) $33,600
C
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