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What amount of uncollectible accounts expense recognized

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Reference no: EM132516904

Question 1: The Dalton Company shows the following account balances at the beginning of its accounting period: Accounts Receivable, $417,000; and Allowance for Uncollectible Accounts, $7,000 Cr. During the year, credit sales were $700,000, collections were $540,000, and $13,000 of uncollectible accounts were written off. The Allowance for Uncollectible Accounts is then adjusted to 4 percent of the outstanding receivables. Based off of this information, what is the amount of uncollectible accounts expense recognized for the year?

Reference no: EM132516904

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