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At December 31, Amy Jo's Appliances had account balances in Accounts Receivable of $313,000 and in Allowance for Uncollectible Accounts of $650 (credit) before any

At December 31, Amy Jo's Appliances had account balances in Accounts Receivable of $313,000 and in Allowance for Uncollectible Accounts of $650 (credit) before any adjustments. An analysis of Amy Jo's December 31 accounts receivable suggests that the allowance for uncollectible accounts should be 2% of accounts receivable. Bad debt expense for the year should be:

Multiple Choice

  • $6,910.

  • $5,111.

  • $6,260.

  • $5,610.

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