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What amount should be reported as doubtful accounts

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Question - Effective with the current year, Fateful company adopted a new accounting method for estimating the allowance for doubtful accounts at the amount indicated by the year-end aging of accounts receivable.

Allowance for doubtful accounts, January 1 - 250,000

Provision for doubtful accounts during the year (2% on credit sales of 10,000,000) - 200,000

Accounts written off during the year - 205,000

Estimated uncollectible accounts per aging, December 31 - 220,000

What amount should be reported as doubtful accounts expense for the current year?

Reference no: EM132846233

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