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What is the allowance for doubtful accounts

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Question - The following information relates to Princess Company's accounts receivables for 2018: Accounts receivable, January 1, 2018 975,000 Allowance for doubtful accounts, January 1, 2018 30,000 Credit sales 4,000,000 Sales returns 110,000 Collection from customers 3,225,000 Accounts written off during 2018 10,000 Recovery of accounts during 2018 5,000 Estimated sales returns at December 31, 2018 75,000 Estimated sales discounts at December 31, 2018 25,000 1% of net credit sales is estimated to be uncollectible. What is the allowance for doubtful accounts as at December 31, 2018?

Reference no: EM132938698

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