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2. ACC Company sells goods only on account. Selected data related to uncollectible accounts receivable are presented below for your use as appropriate. 2020 $45,300
2. ACC Company sells goods only on account. Selected data related to uncollectible accounts receivable are presented below for your use as appropriate. 2020 $45,300 2021 $48,900 2022 $51,700 Credit Sales Collections on Account (not including recoveries of previous write-offs) Write offs of Accounts Receivable 42,900 1,580 45,800 1,760 49,700 1,845 Recoveries of Previous write-offs 120 145 160 ACC uses percentage of receivable method for estimating uncollectible accounts receivable. Assume that the company estimates that it cannot collect 8.75% of its Accounts Receivables. Assume the beginning balance (January 1, 2020) in Accounts Receivable and Allowance for Doubtful Accounts was 17,200 and 1,505, respectively. Calculate Bad Debt expense for 2020, 2021 and 2022. (9 points)
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