Uncollectible accounts expense recognized

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Reference no: EM13912109

On January 1, 2014 the Accounts Receivable and the Allowance for Doubtful Accounts carried balances of $42,500 and $625, respectively. During the year the company reported $100,000 of credit sales. There were $700 of receivables written-off as uncollectible in 2014. Cash collections of receivables amounted to $99,400. The company estimates that it will be unable to collect one percent (2%) of credit sales.

The amount of uncollectible accounts expense recognized in the 2014 income statement will be ?

Reference no: EM13912109

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