At the end of the current year $($before adjusting entries$),$ Apple Corporation had a balance of $$76,000$ in Accounts Receivable and a credit balance of $$11,000$ in Allowance for

Uncollectible Accounts. Service revenue $($all on credit$)$ for the year totaled $$470,000.$

Read the requirements.

Requirement $1.$ Using the percent$-$of$-$sales method, calculate the amount of Uncollectible$-$Account Expense if Apple Corporation estimates its uncollectible$-$account expense using a

rate of $5\%$ of credit sales. What is the ending balance of the Allowance for Uncollectible Accounts under this scenario?

Apple Corporation has

of uncollectible$-$account expense using the percent$-$of$-$sales method. The ending

balance of the Allowance for Uncollectible Accounts is

under this scenario.