At the end of 2021, of accounts receivable of $100,000, a reserve for tax purposes of $27151 was deducted. During 2022 year, $3239 of accounts receivable were actually written off. At the end of 2022, the company expected 59755 to be uncollectible and deducted that amount as a reserve for tax purposes. Determine the nef effect of the reserve for doubtful debts

At the end of 2021, of accounts receivable of $100,000, a reserve for tax purposes of $27151 was deducted. During 2022 year, $3239 of accounts receivable were actually written off. At the end of 2022, the company expected 59755 to be uncollectible and deducted that amount as a reserve for tax purposes. Determine the nef effect of the reserve for doubtful debts

SWFT Individual Income Taxes

43rd Edition

ISBN:9780357391365

Author:YOUNG

Publisher:YOUNG

Chapter18: Accounting Periods And Methods

Section: Chapter Questions

Problem 31CE

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