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The amount of uncollectible accounts expense recognized

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On January 1, year 2, Kincaid Companies accounts receivable and the allowance for doubtful accounts carry balances of $68,200 and $2,300, respectively. During the year Kincaid Reported $176,000 of credit sales. Kincaid wrote off $1,550 of receivables as uncollectible in year two.

Cash collections of receivables amounted to $203,300. Kincaid estimates that it will be unable to collect 1% of credit sales. The amount of uncollectible accounts expense recognized in the year 2 income statement will be ?

Reference no: EM132380332

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