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Arundel Company uses percentage of sales to estimateuncollectibles.At the end of the fiscal year, December 31, 2018, Accounts Receivable has a balance of $78,000 and
ArundelCompany uses percentage of sales to estimateuncollectibles.At the end of the fiscal year, December 31, 2018, Accounts Receivable has a balance of $78,000 and had a total of $780,000 in credit sales.Arundel assumes that 1.0% of sales will eventually be uncollectible.before adjustment, the Allowance for Uncollectible Accounts had a credit balance of 5,000.What dollar amount should be credited to Allowance for Uncollectible Accounts at year end?
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