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How much is uncollectible-account expense

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Problem

Anderson Company had the following information in 2014.

Accounts receivable 12/31/14. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . $8,000

Allowance for uncollectible account 12/31/14 (before adjustment). . . . . . 700

Credit sales during 2014. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 46,000

Cash sales during 2014. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 11,000

Collections from customers on account during 2014. . . . . . . . . . . . . . . . 40,000

Uncollectible accounts are determined by the percent-of-sales method to be 44% of credit sales. How much is uncollectible-account expense for 2014?

A. $1,840

B. $320

C. $700

D. $2,280

Reference no: EM131786487

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