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boven Help The following information relates to a company's accounts receivable: gross accounts receivable balance...

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Accounting

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boven Help The following information relates to a company's accounts receivable: gross accounts receivable balance at the beginning of the year 3300,000, allowance for uncollectible accounts at the beginning of the year, $25,000 (credit balance) credit sales during the year $1,500,000; accounts receivable written off during the year. $16,000; cash collections from customers, $1,450,000. Assuming the company estimates that future bad debts will equal 10% of the year-end balance in accounts receivable 1. Calculate bad debt expense for the year. 2. Calculate the year-end balance in the allowance for uncollectible accounts. 1. Bad debt expense 2 Ending balance $ $ 33.400 24 400

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