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What amount should delta report of allowance for discounts

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Delta, Inc. sells to wholesalers on terms of 2/15, net 30. Delta has no cash sales but 50% of Delta's customers take advantage of the discount. Delta uses the gross method of recording sales and trade receivables.

An analysis of Delta's trade receivables balances at December 31, 2020, revealed the following:

Age Amount Collectible

0 - 15 days 100,000 100%

16 - 30 days 60,000 95%

31 - 60 days 5,000 90%

Over 60 days 2,500 P500

167,500

Question 1: In its December 31, 2020 balance sheet, what amount should Delta report of allowance for discounts?

Reference no: EM132804233

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