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Calistoga Produce estimates uncollectible accounts expense using the percentage of receivables method and expects 1/2% of all A/R not collectible. The company reported accounts receivable
Calistoga Produce estimates uncollectible accounts expense using the percentage of receivables method and expects 1/2% of all A/R not collectible. The company reported accounts receivable and allowance for uncollectible accounts of $471,000 and $1, 650 respectively, at December 31, 2015. During 2016, Calistoga's credit sales and collections were $315,000 and $319,000, respectively, and $1, 720 in accounts receivable were written off. Calistoga's accounts receivable at December 31, 2016 are: $467,000. $473, 280. $465, 280. $469, 280. After recording the adjusting entry for uncollectible accounts at December 31, 2016, what is Calistoga's balance in the allowance for uncollectible accounts? $2, 256. $2, 326. $2, 396. $1, 505. Calistoga's 2016 uncollectible accounts expense is: $2, 256. $2, 326. $2, 396. $1, 720
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