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The following information relates to a company's accounts receivable: gross accounts receivable balance at the...

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Accounting

The following information relates to a company's accounts receivable: gross accounts receivable balance at the beginning of the year, $470,000; allowance for uncollectible accounts at the beginning of the year, $36,000(credit balance); credit sales during the year, $1,800,000; accounts receivable written off during the year, $27,000; cash collections from customers, $1,950,000. Assuming the company estimates bad debts at an amount equal to 3% of credit sales.
Calculate bad debt expense for the year.
Calculate the year-end balance in the allowance for uncollectible accounts.
\table[[1. Bad debt expense],[2. Ending balance]]
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