Illustrate what should be the adjusted balance of allowance

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Reference no: EM13128438

In 2011, Freeze Company had credit sales of $900,000 and granted sales discounts of $18,000. On January 1, 2011, Allowance for Doubtful Accounts had a credit balance of $22,500. During 2011, $37,500 of uncollectible accounts receivable were written off. Past experience indicates that 3% of net credit sales become uncollectible. What should be the adjusted balance of Allowance for Doubtful Accounts at December 31, 2011?

Reference no: EM13128438

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