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What the allowance for doubtful accounts balance

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Question - Maple Company provides for doubtful accounts expense at the rate of 3 percent of credit sales. The following data are available for last year:

Allowance for Doubtful Accounts, January 1 54,000 (cr)

Accounts written off as uncollectible during the year 60,000

Collection of accounts written off in prior years (customer credit was re-established) 15,000

Credit sales, year-ended December 31 3,000,000

Required - What the allowance for doubtful accounts balance at December 31, after adjusting entries?

Reference no: EM132888110

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