Business, 18.11.2019 21:31 von1144

Domino company uses the percent of receivables method to estimate uncollectible accounts expense.
domino began 2016 with balances in accounts receivable and allowance for doubtful accounts of $76,500 and $5,800, respectively.
during the year, the company wrote off $4,640 in uncollectible accounts.
in preparation for the company's 2016 estimate, domino prepared the following aging schedule: number of days past due receivables amount % likely to be uncollectiblecurrent $ 104,000 1%0-30 45,000 5%31-60 9,920 10%61-90 4,440 25%over 90 3,800 50%total $ 167,160 what will domino record as uncollectible accounts expense for 2016? a)$6,132b)$1,512c)$7,292d)$4,640

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Domino company uses the percent of receivables method to estimate uncollectible accounts expense.

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