Flyer estimates bad debt expense assuming that 15 of credit

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Reference no: EM13573083

Flyer Company has provided the following information prior to any year-end bad debt adjustment:

Cash sales, $150,000
Credit sales, $450,000

• Selling and administrative expenses, $110,000
• Sales returns and allowances, $30,000

Gross profit, $290,000
Accounts receivable, $110,000
Sales discounts, $14,000

• Allowance for doubtful accounts credit balance, $1,200

Flyer estimates bad debt expense assuming that 1.5% of credit sales have historically been uncollectible. What is the balance in the allowance for doubtful accounts after bad debt expense is recorded?

Reference no: EM13573083

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