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ABC Company reported accounts receivable of $225,000 and an allowance for doubtful a ccounts ith a $28,000 credit balance at Janua ry 1 2017 ABC
ABC Company reported accounts receivable of $225,000 and an allowance for doubtful a ccounts ith a $28,000 credit balance at Janua ry 1 2017 ABC Compa ny records bad debt expen se using the net credit sales method. The following information was available for ABC Company for the years 2017 and 2018 2017 2018 Cash collections from customers $275,870 Recoveries $3,600 $6,760 Net realizable value at December 31 $127,180 $154,240 Accounts receivable turnover ratio 2.40 1.80 Sales revenue $468,000 of sales estimated to be uncollectible Accounts receivable at December 31 $205,000 Write-offs Calculate the percentage of sales estimated to be uncollectible in 2018 Enter your answer as a number followed by the symbol (i.e., 12%)
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