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A company recorded credit sales of $8.3 million in 2020. After write-offs, but before any adjusting entries have been recorded for 2020, gross accounts receivable
A company recorded credit sales of $8.3 million in 2020. After write-offs, but before any adjusting entries have been recorded for 2020, gross accounts receivable (aging analysis below) had a debit balance of $750,000 and the allowance for uncollectible accounts had a debit balance of $8,000. There were no recoveries during the year. | Aging category | Balance Current $500,000 30-60 days $200,000 Over 60 days $ 50,000 Estimated Uncollectible % 4% 8% 10% If the balance in the allowance for uncollectible accounts at the beginning of 2020 was a $40,000 credit, the total amount of accounts receivable written off during 2020 was
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