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Find the ending balance of the allowance for bad debts

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Question - The following information is from the 2019 records of Uptown Antique Shop:

Accounts receivable, December 31, 2019 $45,000 (debit)

Allowance for Bad Debts, December 31, 2019 prior to adjustment 1,200 (debit)

Net credit sales for 2019 177,000          

Accounts written off as uncollectible during 2019 15,000          

Cash sales during 2019 28,000          

Bad debts expense is estimated by the percent-of-sales method. Management estimates that 4% of net credit sales will be uncollectible. Find the ending balance of the Allowance for Bad Debts account after adjustment?

Reference no: EM132627556

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