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Intermediate Accounting: Reporting...
Marmol Corporation uses the allowance method for bad debts. During 2019, Marmol charged $50,000 to bad debt expense and wrote off $45,200 of uncollectible accounts receivable. These transactions resulted in a decrease in working capital of:
- a. $0
- b. $4,800
- c. $45,200
- d. $50,000
Identify the amount of decrease in working capital.
Working capital: The measure which evaluates the ability of a company to pay off the short-term debt obligations, by computing the excess of current assets over current liabilities is referred to as working capital.
Justification for the incorrect option of a, b and c:
$0, $4,800 and $45,200 are not the amounts of the decrease in working capital. Therefore, these are incorrect options...
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