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Swifty Corp. has outstanding accounts receivable totaling $5.30 million as of December 31 and sales...

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Accounting

Swifty Corp. has outstanding accounts receivable totaling $5.30 million as of December 31 and sales on credit during the year of $19 million. There is also a credit balance of $10500 in the allowance for doubtful accounts. If the company estimates that 6% of its outstanding receivables will be uncollectible, what amount of bad debt expense will be reported on Swiftys income statement? $307500. $318000. $1140000. $328500

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