Magic Animation Corporation has aged its accounts receivable and estimated uncollectible accounts as follows (in thousands). What bad debt expense
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Magic Animation Corporation has aged its accounts receivable and estimated

uncollectible accounts as follows (in thousands). What bad debt expense should the company report for the current period? Existing balance in Allowance account is 141 thousand:
Age of Receivables: Current, 30-60 days past due, 61-90 days past due, Over 90 days past due
AR Balance: $4,000, 1,600, 900, 510
Estimated % uncollectible: 1%, 3%, 6%, 10%
Allowance: $40, 48, 54, 51


Answer Options:
a) $52 thousand
b) $193 thousand
c) $7,010 thousand
d) $6,816 thousand
e) There is not enough information to determine the amount.

Answered by Expert Tutors

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Subject: Accounting, Business
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