Reference no: EM131223356
Calistoga Produce estimates bad debt expense at ½% of credit sales. The company reported accounts receivable and allowance for uncollectible accounts of $471,000 and $1,650, respectively, at December 31, 2012. During 2013, Calistoga's credit sales and collections were $315,000 and $319,000, respectively, and $1,720 in accounts receivable were written off.
Calistoga's accounts receivable at December 31, 2013, are: A. $467,000. B. $473,280. C. $465,280. D. $469,280.
Calistoga's 2013 bad debt expense is: A. $1,720. B. $1,650. C. $1,505. D. $1,575.
Calistoga's adjusted allowance for uncollectible accounts at December 31, 2013, is: A. $1,575. B. $1,505. C. $1,650. D. $1,720.
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