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Calculate the Uncollectible Accounts Expense

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Reference no: EM132728526

Problem - The general ledger account for Accounts Receivable shows a debit balance of $58,355. The Allowance for Uncollectible Accounts has a credit balance of $4,550. Net sales for the year were $465,225. In the past, 2 percent of net sales have proved uncollectible. An aging of accounts receivable accounts results in an estimate of $1 1,600 of uncollectible accounts receivable.

Required -

a. Calculate the Uncollectible Accounts Expense. Show your work.

b. Calculate the ending balance of the Allowance for Uncollectible Accounts. Show your work.

Reference no: EM132728526

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