Calistoga Produce estimates bad debt expense at 0.50% of credit sales. The company reported accounts receivable...

Transcribed Image Text:

Calistoga Produce estimates bad debt expense at 0.50% of credit sales. The company reported accounts receivable and allowance for uncollectible accounts of $475,000 and $1,580 respectively, at December 31, 2020. During 2021, Calistoga's credit sales and collections were $326,000 and $303,000, respectively, and $1,920 in accounts receivable were written off. Calistoga's 2021 bad debt expense is Multiple Choice $1,560. $1,775. $1,630. $1,705. Calistoga Produce estimates bad debt expense at 0.50% of credit sales. The company reported accounts receivable and allowance for uncollectible accounts of $475,000 and $1,580 respectively, at December 31, 2020. During 2021, Calistoga's credit sales and collections were $326,000 and $303,000, respectively, and $1,920 in accounts receivable were written off. Calistoga's 2021 bad debt expense is Multiple Choice $1,560. $1,775. $1,630. $1,705.