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What amount should BCC report as allowance

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Question - As of January 1, 2005, BCC company had a balance of $520,000 in its allowance for uncollectible accounts. Based on experience, 2% of BCC's credit sales have been uncollectible. During 2005, BCC wrote off $650,000 of accounts receivable. Credit sales for 2005 were $18,000,000. In its December 31, 2005 balance sheet, what amount should BCC report as allowance for uncollectible accounts?

Reference no: EM132486233

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