Business, 24.10.2019 05:00 Svetakotok

The following information relates to a company’s accounts receivable: accounts receivable balance at the beginning of the year, $320,000; allowance for uncollectible accounts at the beginning of the year, $21,000 (credit balance); credit sales during the year, $1,050,000; accounts receivable written off during the year, $12,000; cash collections from customers, $950,000. assuming the company estimates that future bad debts will equal 9% of the year-end balance in accounts receivable.

1.calculate the year-end balance in the allowance for uncollectible accounts.. ending balance?

2. calculate bad debt expense for the year.. bad debt expense?

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