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What will be the amount of uncollectible accounts

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Question 1 - The allowance for uncollectible accounts currently has a credit balance of $200. The company's management estimates that 2.5% of net credit sales will be uncollectible. Net credit sales are $115,000. What will be the amount of allowance for uncollectible accounts reported on the balance sheet?

A) $3,275

B) $3,075

C) $2,675

D) $2,875

Question 2 - The allowance for uncollectible accounts currently has a debit balance of $200. The company's management estimates that 2.5% of net credit sales will be uncollectible. Net credit sales are $115,000. What will be the amount of uncollectible accounts expense reported on the income statement?

A) $2,675

B) $2,875

C) $3,275

D) $3,075

Reference no: EM132484518

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