Determine what is balance in allowance for doubtful accounts

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Reference no: EM132726433

Waterway Co. provides for doubtful accounts based on 3% of gross accounts receivable, The following data are available for 2020.

Credit sales during 2020 $1,731,800

Bad debt expense 57,960

Allowance for doubtful accounts 1/1/2016 450

Collection of accounts written off in prior years (customer credit was reestablished) 7,750

Customer accounts written off as uncollectible during 2020 32,200

Problem 1: What is the balance in Allowance for Doubtful Accounts at December 31, 2020?

Reference no: EM132726433

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