8:381 Return to course 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 Finish attempt... How to use N My Subscriptions Nick DeBellis eBook Print Question 15 Partially correct Mark 2.00 out of 3.00 P Flag question Allowance Method The Huntington Company, which has been in business for three years, makes all of its sales on account and does not offer cash discounts. The firm's credit sales, collections from customers, and write-offs of uncollectible accounts for the three-year period are summarized below: Year Sales Collections Accounts Written Off $574,000 2012 $630,000 2013 800,000 760,000 2014 870,000 844,000 $4,200 6,700 7,300 Required If the Huntington Company had used the allowance method of recognizing credit losses and had provided for such losses at the rate of 1.2 percent of credit sales, what amounts in Accounts Receivable and the Allowance for Doubtful Accounts would appear on the firm's balance sheet at the end of 2014? What total amount of bad debts expense would have appeared on the firm's income statement during the three year period? Balance in Accounts Receivable at year end, 2014 Allowance for Doubtful Accounts Balance at year end 2014 Bad Debts Expense Check Partially correct Marks for this submission: 2.00/3.00. Previous Save Answers $ 103,800 9,400 16,200 x MacBook Pra Finich attemnt P Send a chat O