Both accounts have normal balances. the company uses the aging of accounts receivable method. its estimate of uncollectible receivables resulting from the aging analysis equals $8,350. what is the amount of bad debt expense to be recorded for the year?

$8,350

Explanation:

When an organization estimates its uncollectible receivables, the entries posted are credit to the doubtful debts accounts (a balance sheet account usually mapped to accounts receivable) and a debit to Bad Debt Expense.

As such, given that both accounts have normal balances and the company uses the aging of accounts receivable method, the result of the aging analysis used to estimate uncollectible receivables is the basis of what will be posted to the bad debt expense.

Hence bad debt expense for the year = $8,350

net worth is the difference between what you own and what you have. if you exceed your liabilities you have a positive net worth. if your liabilities are greater than your assets you have a negative net worth. its a snapshot of your financial situation. if you calculate your net worth you will see the end result of everything you've earned and spent as of now. net worth statements and all you asked of can you determine where you are, how to get where you want to be, if your spending   to much. honestly it can tell you a lot of things. i can go on, but you can paint the picture from here.

explanation:

a loan? that’s my guess, anywho.