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Calculate net accounts receivable at december

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Reference no: EM133111847

Question - At December 31, 2020, Co. reported accounts receivable of $500,000. Allowance for doubtful accounts was calculated at 5% of this amount, or $25,000. During 2021, the following events occurred:

1. Sales on account were $2,000,000

2. Cash collections were $1, 800,000

3. A $50,000 customer account receivable became uncollectible.

Required -

1. Calculate the 2021 bad debt expense?

2. Calculate net accounts receivable at December 31, 2021?

Reference no: EM133111847

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