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Discuss what should be the adjusted balance of allowance

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In 2012, Boyle Company had credit sales of $900,000 and granted sales discounts of $20,000. On January 1, 2012, Allowance for Doubtful Accounts had a credit balance of $22,000. During 2012, $37,500 of uncollectible accounts receivable were written off. Past experience indicates that 3% of net credit sales become uncollectible. What should be the adjusted balance of Allowance for Doubtful Accounts at December 31, 2012?

a. $10,900

b. $11,500

c. $26,400

d. $33,100

 

Reference no: EM131796377

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