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At December 31, Amy Jo's Appliances had account balances in Accounts Receivable of $305,000 and in Allowance for Uncollectible Accounts of $790 (credit) before adjustment.
At December 31, Amy Jo's Appliances had account balances in Accounts Receivable of $305,000 and in Allowance for Uncollectible Accounts of $790 (credit) before adjustment. 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
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