Calistoga Produce estimates bad debt expense at 0.50% of credit sales. The company reported accounts...
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Calistoga Produce estimates bad debt expense at 0.50% of credit sales. The company reported accounts receivable and allowance for uncollectible accounts of $490,000 and $1,500 respectively, at December 31, 2015. During 2016, Calistoga's credit sales and collections were $321,000 and $303,000, respectively, and $1,840 in accounts receivable were written off.
Calistoga's adjusted allowance for uncollectible accounts at December 31, 2016, is:
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