What will be the balance in allowance for doubtful accounts

Reference no: EM131912780

Problem

Martin Inc. has outstanding accounts receivable totaling $1.2 million as of December 31 and sales on credit during the year of $13 million. There is also a debit balance of $27,000 in the allowance for doubtful accounts. If the company estimates that 8% of its outstanding receivables will be uncollectible, what will be the balance in the allowance for doubtful accounts after the year-end adjustment to record bad debt expense?

Reference no: EM131912780

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