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Dynamic, Inc. had credit sales of $665,000 for March. Accounts receivable of $13,000 were determined to be worthless and were written off during March. Accounts receivable total $548,000 at March 31. Management feels that based on past experience, approximately 3% of net credit sales will prove to be noncollectable.
Question 1: Assuming Dynamic, Inc. uses the income statement approach (an allowance method) to account for uncollectible accounts, uncollectible accounts expense for March is:
A.16440
B.29440
C.32950
D.19950
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