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What amount of allowance for uncollectible accounts

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Question 1: At December 31, year 1, Gasp Co.'s allowance for uncollectible accounts had a credit balance of $30,000. During year 2, Gasp wrote off uncollectible accounts of $45,000. At December 31, year 2, an aging of the accounts receivable indicated that $50,000 of the December 31, year 2, receivables may be uncollectible. What amount of allowance for uncollectible accounts should Gasp report in its December 31, year 2, balance sheet?

Reference no: EM132483839

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