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Mcmanigle corporationhave McManigle Corporation had a 1/1/20 balance in the...

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Accounting

Mcmanigle corporationhave
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McManigle Corporation had a 1/1/20 balance in the Allowance for Doubtful Accounts of $40,000. During 204 it wrote off $28,000 of accounts and collected $8,400 on accounts previously written off. The balance in Accounts Receivable was $800,000 at 1/1 and $960,000 at 12/31. At 12/31/20, McManigle estimates that 5% accounts receivable will prove to be uncollectible. What should McManigle report as its Allowance for Doubtf Accounts at 12/31/20? Select one: a. $48.000. b. $19,600. C. $19.200. d. $27,600 Previous page Next parte

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